IRAN: *IRAN SAYS EU ‘LEGITIMATE' TARGET IF IT JOINS WAR: FRANCE 24" - Bloomberg

• US Data/Speaker Calendar (prior, estimate). All times ET
• 2/05 0730 Challenger Job Cuts YoY (-8.3%, --)
• 2/05 0830 Initial Jobless Claims (209k, 212k), Continuing Claims (1.827M, 1.850M)
• 2/05 1000 JOLTS Job Openings (7.146M, 7.250M)
• 2/05 1050 Atlanta Fed Bostic moderated Q&A
• 2/05 1130 US Tsy $105B 4W & $95B 8W bill auctions
• Source: Bloomberg Finance L.P. / MNI

• RES 4: 112-31   High Dec 18 and key short-term resistance
• RES 3: 112-22   High Jan 7 
• RES 2: 112-07   50-day EMA 
• RES 1: 112-02   High Feb 02
• PRICE:‌‌ 111-20 @ 17:06 GMT Feb 04
• SUP 1: 111-09   Low Jan 20 and the bear trigger
• SUP 2: 111-00   Round number support
• SUP 3: 110-30+ 1.618 proj of the Oct 17 - Nov 5 - 25 price swing  
• SUP 4: 110-22+ 1.764 proj of the Oct 17 - Nov 5 - 25 price swing

Treasuries continue to trade below Monday’s high and a bearish theme remains intact. Resistance to watch is 112-07, the 50-day EMA. A clear break of the 50-day average is required to signal scope for a stronger recovery. Until then, gains are considered corrective and for bears, sights are on key support at 111-09, the Jan 20 low. Clearance of this level would confirm a resumption of the downtrend.

• US TSY TO SELL $25.000 BLN 30Y BOND FEB 12, SETTLE FEB 17