DAX recovers losses, back above 11k

FXStreet (Mumbai) – Germany’s benchmark index, the DAX rebounded from fresh four month lows reached on Tuesday and defends mild gains regaining 11k threshold. However, the upside remains capped on rising German yields as also ongoing Greece crisis weighs on the stocks.

Currently, the DAX 30 trades 0.38% higher at 11044 levels, recovering from session lows at 10942.20. The DAX snapped its long run of losses and edged higher mainly on profit-taking, shrugging off negative impact of stronger euro on the exports stocks.

The index is seen trading with a positive market breadth, the advance-decline ratio being 24:6. LANXESS AG is the top gainer up 1.58%, followed by Bayer AG up 1.40%. While Infineon Technologies is down -0.37% on the day, followed by Deutsche Lufthansa which is losing -0.30%.

DAX Technical Levels

The index has an immediate resistance at 11100. Meanwhile, support is seen at 10800 levels and 10680 levels.

Germany’s benchmark index, the DAX rebounded from fresh four month lows reached on Tuesday and defends mild gains regaining 11k threshold. However, the upside remains capped on rising German yields as also ongoing Greece crisis weighs on the stocks.

(Market News Provided by FXstreet)