In our analysis from a week back, we presented a bearish outlook for US yields, specifically focusing on the bearish impulsive price action down from 4.8%, which could keep the US dollar in a downtrend. CLICK HERE
What we’ve seen so far is a strong rebound from 3.8%, as shown on the updated 4-hour chart. This rebound suggests that yields are stepping into a correction, which could unfold as an A-B-C structure. So, it looks like we could see a bit more upside in the near term before US yields turn back to the downside. At the same time, this could mean the US dollar may find some support soon or remain in consolidation a bit longer.
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