DAX defends mild gains

FXStreet (Mumbai) – Germany’s benchmark index, the DAX manages to keep gains, holding on to a minor recovery after sharp sell-off seen on Tuesday after the US dollar rallied on the back of upbeat US macro figures while Greece default concerns also dragged the index lower.

Currently, the DAX 30 trades 0.26% higher at 11656.50 levels, retreating from 11690 session highs. The DAX strives to maintain a bid tone as investors’ sentiment was hampered amid lack of progress seen on the Greece front ahead of its June 5 repayment to the IMF.

The index is seen trading with a positive market breadth, the advance-decline ratio being 18:12. Heidelberg Cement is the top gainer up 1.41% followed by Beiersdorf AG up mere 1.16%. While E.ON SE is down -0.83% on the day, followed by MRG AG which is losing -0.73%.

DAX Technical Levels

The index has an immediate resistance at 11800. Meanwhile, support is seen at 11586 levels and 11410 levels.

Germany’s benchmark index, the DAX manages to keep gains, holding on to a minor recovery after sharp sell-off seen on Tuesday after the US dollar rallied on the back of upbeat US macro figures while Greece default concerns also dragged the index lower.

(Market News Provided by FXstreet)