DAX jolts higher at open, Greek deal underpins

FXStreet (Mumbai) – Germany’s benchmark index, the DAX jumped to fresh three-week high on Monday, opening the week on a stronger note, in a knee-jerk reaction on reports that European officials have found a solution to the Greek debt crisis.

Currently, the DAX 30 trades 1.32% higher at 11470, retreating from fresh multi-week highs of 11494.30 levels. German stocks extend upside tracking its other European counterparts with traders in the region cheering news that the deal on Greece has been finally struck.

The index trades with a clear positive market breadth with all stock on the wining end Deutsche Bank AG is the top gainer, up 1.36%, followed by BASF SE which is advancing 1.13%. While Allianz SE is up 1.11%.

DAX Technical Levels

The index has an immediate resistance at 11561. Meanwhile, support is seen at 11352 levels and 11149.27 levels.

Germany’s benchmark index, the DAX jumped to fresh three-week high on Monday, opening the week on a stronger note, in a knee-jerk reaction on reports that European officials have found a solution to the Greek debt crisis.

(Market News Provided by FXstreet)