EDGE Chart of the Day – 10yr Notes (June 18th, 2024)

The 10yr notes, or “ZN’s” are nearing some key resistance. The 50dma and 200dma (orange/red) moving averages have been intertwined for most of 2024 as price action has consolidated in this tight triangle for months. Considering we are at the top of the triangle and also at the 61.8% Fibonacci retracement of the 2024 range (and coming off a solid 20yr auction just moments ago at the time of writing) we feel it is important to identify the 111’00’ level as being very strong resistance. If broken, we could see yields in the US slump and this could have some big repercussions for other markets around the world. Keep an eye on the 10yr notes!

Blake Morrow

Our EDGE “Chart of the Day” feature highlights standout technical analysis patterns and price moves. This type of analysis could be helpful if you are interested in our Trader Funding Program where you can also join an elite group of traders at Forex Analytix, click here to learn more. Trade our money, take 75% of the gains and none of the risk.