18 May 2015
DAX rallies as euro weakens on Greece woes
FXStreet (Mumbai) - Germany’s benchmark index, the DAX opened the week on an upbeat note and edged higher mainly driven by broad euro weakness as Greece debt concerns return to markets which pressures the shared currency. Weaker euro pushes exports stocks higher.
Currently, the DAX 30 trades 0.80% higher at fresh session 11537.30 levels, having posted day’s high at 11582.30 and day’s low at 11405.80. The DAX gained further upside momentum with German stocks enjoying a weaker euro that in turn is keeping an eye on Greece.
The index is seen trading with a positive market breadth, the advance-decline ratio being 26:4. Merck KGaA is the top gainer up 1.84% followed by Volkswagen AG up 1.62%. While RWE AG is the top loser so far, down -1.74% on the day. While Deutsche Boerse slides -1.01%.
DAX Technical Levels
The index has an immediate resistance at 11700. Meanwhile, support is seen at 11400 levels and 11260 levels.
Currently, the DAX 30 trades 0.80% higher at fresh session 11537.30 levels, having posted day’s high at 11582.30 and day’s low at 11405.80. The DAX gained further upside momentum with German stocks enjoying a weaker euro that in turn is keeping an eye on Greece.
The index is seen trading with a positive market breadth, the advance-decline ratio being 26:4. Merck KGaA is the top gainer up 1.84% followed by Volkswagen AG up 1.62%. While RWE AG is the top loser so far, down -1.74% on the day. While Deutsche Boerse slides -1.01%.
DAX Technical Levels
The index has an immediate resistance at 11700. Meanwhile, support is seen at 11400 levels and 11260 levels.