A temporary base forming in Canadian Yields

Here we can see Canadian 10-year yields are trying to find a temporary footing as we entered into the G20 weekend. From a strictly technical perspective we can see a double bottom forming here between 1.38/1.41, in order for confidence to remain in the basing thesis we will need to keep above here as the divergence plays out.

To the topside, a break above 1.54/1.57 will unlock the flows towards 1.66 and 1.81 as an extension. It is currently locked and my main target here is 1.55 as we enter into Q319.

Best of luck those trading Canadian Fixed Income, Canadian Equities and CAD in the FX board.

Trade closed: target reached:

Well done those who caught this one...