August 10, 2022 08:05 GMT
- Poland 10Y yield has been retracing higher this week after finding support at the 5.36% level on Monday, the 61.8% Fibo retracement of the 3.65% - 8.13% range.
- It is the second time that the 10Y yield ‘rejects’ this support line; we have seen that LT bond yields have been consolidating sharply in the past two months as central banks have started to allocate more weight to the economic outlook (expected to deteriorate sharply in H2).
- Next key support to watch below 5.36% stands at 5% (200DMA).
- On the topside, resistance to watch stands at 5.89% (50% retracement).