German Bunds Break Below Support, More Downside Remains Likely

The German Bund has finally broken support in the bearish channel and targets the 127% extension of the March 2023 impulsive move higher. Following the ECB last week, and ahead of the FOMC this week, we have yields rallying in the USA with the 10-year note falling alongside the bunds as traders are nervous ahead of the decision. RSI in the Bunds are pointing lower, confirming the bearishness.  German Bund-Daily Chart

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