Despite a bounce effort Monday, an inside pattern contained below the peak at 128-08 from the rebound last week (post FOMC Minutes) and we restate that "whilst minimally capped below barriers at 128-14/19, we see negative pressures intact".
The aggressive sell off last week below 127-16 retrace support from November 2014 leaves the down trend intact for latter February.
For Today: We see a downside bias for 127-135/10 and back to 127-02/126-27, which we would look to try to hold at first; break aims towards 126-155/13.
If you want to see more, you can view the full US 10yr futre report with screencasts, levels and day trade views - click here
And remember, for a FREE trial of our Fixed Income/ Bond Futures and all other reports sign up by clicking here
Daily US 10yr Future Chart