DAX subdued amid no Greek progress

FXStreet (Mumbai) – Germany’s benchmark index, the DAX trades lower following its European counterpart today, as Greek debt negotiations deadlock continue to hamper investors’ mood while all eyes now focus on Saturday Euro group meeting for a Greek solution.

Currently, the DAX 30 trades -0.35% lower at 11433.30 levels, recovering from fresh session lows at 11389. The DAX remains pressured amid lack of fresh triggers with almost no significant macro releases while markets await BOE Carney speech later in the day for fresh cues.

The index is seen trading with a negative market breadth, with advance-decline ratio of 10:20. K+S AG is the top gainer 1.39%, followed by Lanxess AG up 1.17%. While RWE AG is the top loser, down -1.20%, followed by Henkel KGaA which is losing -0.45%.

DAX Technical Levels

The index has an immediate resistance at 11588. Meanwhile, support is seen at 11360 levels and 11240 levels.

Germany’s benchmark index, the DAX trades lower following its European counterpart today, as Greek debt negotiations deadlock continue to hamper investors’ mood while all eyes now focus on Saturday Euro group meeting for a Greek solution.

(Market News Provided by FXstreet)