Swiss Franc and Yen are both strong today, helped by decline in treasury yields. At the time of writing, German 10-year bund yield is down -0.0555 at -0.011. It turned negative for the first time since April 12.
US 10-yer yield is down -0.050 at 2.520. More importantly, today’s sharp fall suggests that TNX is rejected by 55 day EMA, as well as long term channel support turned resistance. Focus would be back on 2.463 support for the near term. Strong support from this level will retain near term bullish, for at least another rebound to 2.759 resistance. However, decisive break of 2.463 will likely resume larger decline from 3.248 through 2.356 low.
