Important US 10-year auction this week!

US 10-year yield spiked on Friday which strengthened the 61.8% Fibo retracement rate of 3.931%. The main resistance rates now sit at 4.057% and 4.115%, the 50- and 200-day MA’s. Given the lower high made last week I suspect the next move will be higher towards the 38.2% Fibo rate of 4.347% so keep your eyes on this week’s US 10-year bond auction.