Following an explosive ISM Services reading today of 54.1 Vs 53.5 forecast and JOLTS Job Openings 8.1m Vs 7.73m forecast for the US – the 10 year Treasury yield has traded higher to 4.693% at time of writing.

As mentioned in the past a valid sources of direction for EURUSD, are interest rate differentials and specifically US 10 Year against German 10 Year. Currently a gap of 2.20% favors the USD with dynamics kicking in.

Next major resistance for the US 10 year are 4.739% and 5.0187% (2023 highs)