March 26, 2023

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10 year yield moves higher and back above 100 hour MA

1 min read

Solid floor at 1.530%

The 10 year yield bottomed stay at 1.5296% (call it 1.530%). That was near the swing lows from April 15 and April 21. The triple bottom is now a solid support level for yields.  

Solid floor at 1.530%

The move back to the upside has taken yield back above the 100 hour moving average at 1.570%. The strength the yield also moved above the moving average line only to rotate back to the downside after moving to a high of 1.587%. That yield level also corresponded with the falling 200 hour moving average currently. It represents the next upside technical level that would need to be broken if the yield biases to continue in an upward direction.

Conversely, a move back below the 100 hour moving average would disappoint those looking for a run back to the upside in US yields.

Since topping at 1.774% back on March 30, the yield has rotated down through April. Most of the time since March 6 has been below the 200 hour moving average at the 1.587% level currently.

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