FRANCE T-BILL AUCTION PREVIEW: On offer next week

• MNI: EUROZONE FINAL FEB SERVICES PMI 50.6 (FLASH: 50.7); JAN 51.3
• MNI: EUROZONE FINAL FEB COMPOSITE PMI 50.2 (FLASH: 50.2); JAN 50.2

• RES 4: 119.040 High Feb 28 and a reversal trigger        
• RES 3: 118.950 High Mar 3        
• RES 2: 118.310 Low Mar 3    
• RES 1: 118.090 Intraday high                               
• PRICE: 117.870 @ 08:40 GMT Mar 5 
• SUP 1: 117.650 Intraday low    
• SUP 2: 117.600 Round number support 
• SUP 3: 117.490 2.00 proj of the minor Feb 28 - Mar 3 - 4 price swing  
• SUP 4: 117.318 2.236 proj of the minor Feb 28 - Mar 3 - 4 price swing     

Bobl futures are trading sharply lower this morning. The contract has gapped down and price action is likely to remain volatile near-term. A key short-term support at 117.850, the Feb 20 low, has been pierced. This undermines a recent bullish theme. A continuation lower would signal scope for an extension towards the 117.600 handle. On the upside, key short-term resistance has been defined at 119.040, the Feb 28 high.

• MNI: GERMANY FINAL FEB SERVICES PMI 51.1 (FLASH: 52.2); JAN 52.5
• MNI: GERMANY FINAL FEB COMPOSITE PMI 50.4 (FLASH: 51.0); JAN 50.5