FXStreet (Mumbai) – Germany’s benchmark index, the DAX extends losses for the second straight session and sits near fresh three week lows amid ongoing fears over Greece, as the country decided to postpone its scheduled payment to the IMF.
Currently, the DAX 30 trades -1% lower at 11227.30 levels, hovering close to session lows at 11213. The DAX fell further in to losses as markets fret over recent updates surrounding Greece with chatter about snap elections also doing the rounds, dampening investors’ sentiment.
The index is seen trading with a negative market breadth, the advance-decline ratio being 10:20. LANXESS AG is the top gainer up 0.76%, followed by Heidelberg Cements up 0.51%. While Henkel AG is down -1.07% on the day, followed by Merck KGaA which is losing -0.99%.
DAX Technical Levels
The index has an immediate resistance at 11300. Meanwhile, support is seen at 11180 levels and 11k levels.
(Market News Provided by FXstreet)