On the monthly we can argue the case for 2-year yields being inside a 4th wave correction of a 5 wave sequence since the cycle lows. This advance started in 2011 and for it to remain true we need to remain above the 50% retrace (1.761) which we are currently sitting on.
Anything below here will put questions towards the nature of this rally and destroy confidence in those betting on new highs in yields in a 5th wave.
To the topside an increase in confidence will come from a break above 1.974 as mentioned in the weekly chart, whilst the view will need reassessment at 1.639-1.615%.
Best of luck to all those in yields, a very important move is taking place.