Treasury yields are rising with the spread between the 10’s and 2’s also rising. That continues the recent short-term trend. The longer this keeps up the closer we’d get to being able to declare a new trend and… a new macro backdrop.
The Investing.com graphic also includes the 10 year Treasury Note and some Euro/UK bonds. The bonds are down as yields are up across the pond as well.
Uncle Buck has bounced to the underside of the former 94 +/- support, now short-term resistance. There is notable support around 90 and 92 at the 38% and 50% Fib retrace levels as noted previously.
Though I think USD can decline further to those levels, I am neutral on dear old Unc right now and bullish on the big picture; which must mean I am bearish on the Euro’s big picture after being fully prepared for the current Euro rally: Euro Bullish
