0605 GMT - The U.S. 10-year Treasury yield could fall below key support area between 3.980% and 4.060%, says Quek Ser Leang of UOB Global Economics & Markets Research, in a research report. The weekly moving average convergence divergence indicator crossed into negative territory two weeks ago, suggesting downward pressure on the 10-year yield is persisting, the markets strategist says. Also, weekly stochastics haven't reached oversold levels, he says. Strong support levels are pegged at 4.060%, which marks the bottom of the weekly Ichimoku cloud, and 3.980%, the current level of the rising weekly trendline, he adds. The U.S. 10-year Treasury yield is unchanged at 4.1526%. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
March 04, 2025 01:05 ET (06:05 GMT)
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