Double bottom (@1.1270) gives a technical target @ 1.65 %; it has nearly been filled with a high so far @ 1.6150
Interesting to note that current level coincides with the former congestion top seen early this year between April and May.
Therefore, this 1.6000/1.6500 area may this time trigger the second top and should be watch at very carefully !
The upside breakout of the triangle pattern around 1.3900 which also coincided roughly with the daily top clouds triggered an upside acceleration with a small consolidation.
As long as the US 10 Y stays and hold above TS , it is fine for further upside towards former March high @ 1.774 (50 % Fib ret @ 1.8060) … but a failure to do it, would directly put the focus on the next support level
around 1.35/1.45 former resistance area which becomes now the new support zone .
As usual, watch an monitor closely price action on shorter intraday time frames to get intermediate clues for the upcoming trading sessions.
Have a nice week.
All the best
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