FX.co ★ Elliott wave analysis of US 10Y Treasury yield for February 17, 2023

The US 10Y Treasury yield is now facing strong resistance near 3.83. We could see a temporary break followed by a setback close to the 3.50 - 3.60 area. The next move will be a strong rally higher towards the 4.86 target and maybe even closer to the 5.81 target to complete wave 5 and the entire five-wave rally from 0.33.

However, for now, let's see the reaction after resistance at 3.83 is tested.