Just to remember where we are, Treasury prices spiked at the end of last year in response to the credit crisis. However, prices have come down since then, although they are still above the 200 day SMA and the line of support established from the high in September of last year.
On the three month chart, we see the rally that occurred after the Fed's last policy statement where they essentially said they would be purchasing Treasuries. Since then, prices have sold off. However, the Fed essentially put a floor in Treasury prices with it's announcement.
