US 10 year yields have rallied significantly in the last few weeks. The chart shows the yields above all significant moving averages and in a bullish trend.
On zooming out, we can see that yields are at a significant level. This zone has provided support a number of times in the past – 2012, 2016 and 2019. This can prove to be an important resistance and rates can stop here for some time. What price action does here will have important impact on other key assets like Equities so this is one chart we should observe closely over the next few weeks.