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27 Mar 2015
DAX rebounds, eyes 12k
FXStreet (Mumbai) - Germany’s benchmark index, the DAX opened with a positive gap of 90 points and swung between gains and losses thereon as the index tries to erase weekly losses and attempts to make a positive weekly close.
Currently, the DAX 30 trades lower by 0.28% and trades at 11881.50 levels, bouncing-off day’s highs at 11952.80 levels. The DAX recovered previous losses and edged higher as a weaker shared currency across the board pushed the exports stocks higher. EUR/USD pair is losing around -0.53% and trading at 1.0825 levels.
The index is seen trading with a negative market breadth, advance-decline ratio being 19:11. adidas AG is the top gainer, up 4.52%. On the losing end, E.ON SE is down -0.47% followed by Bayer AG which is lower by -0.14%.
DAX Technical Levels
The index has an immediate resistance at 12k. Meanwhile, support is seen at 11700 levels and 11531 levels.
Currently, the DAX 30 trades lower by 0.28% and trades at 11881.50 levels, bouncing-off day’s highs at 11952.80 levels. The DAX recovered previous losses and edged higher as a weaker shared currency across the board pushed the exports stocks higher. EUR/USD pair is losing around -0.53% and trading at 1.0825 levels.
The index is seen trading with a negative market breadth, advance-decline ratio being 19:11. adidas AG is the top gainer, up 4.52%. On the losing end, E.ON SE is down -0.47% followed by Bayer AG which is lower by -0.14%.
DAX Technical Levels
The index has an immediate resistance at 12k. Meanwhile, support is seen at 11700 levels and 11531 levels.