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10Y yield Breaks Below 61.8% Fibo Support

CZECHIA
  • Czech 10Y yield continues to retrace lower this week, breaking below the 4% on Monday and currently trading below the 3.94% support, which corresponds to the 61.8% Fibo retracement of the 2.80% -5. 79% range.
  • Next key level to watch on the downside stands at 3.63% (200DMA),
  • On the topside, resistance to watch stands at 4.29% (50% retracement).
  • With the 2Y yield still trading above the 6% level, the yield curve remains ‘deeply’ inverted, pricing in significant deceleration in the economic activity in H2.

Source: Bloomberg/MNI

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