DAX eases-off fresh weekly lows

FXStreet (Mumbai) – Germany’s benchmark index, the DAX extends its downslide for the second straight session, although recovered from fresh one week lows, as traders remain worried Greece’s deal with creditors is far from a reality.

Currently, the DAX 30 trades -0.32% lower at 11641.50 levels, retreating from 11512.80 fresh weekly lows. The DAX trades in red and is poised for biggest weekly fall as traders remain cautious with talks surrounding Greece takes centre stage. Moreover, a stronger euro across the board also pushed exporters’ stocks lower.

The index is seen trading with a negative market breadth, the advance-decline ratio being 1:29. Fresenius SE is the sole gainer up 1.13%. While RWE AG is down -1.85% on the day, followed by Deutsche Lufthansa AG which is losing -1.54%.

DAX Technical Levels

The index has an immediate resistance at 11700. Meanwhile, support is seen at 11500 levels and 11410 levels.

Germany’s benchmark index, the DAX extends its downslide for the second straight session, although recovered from fresh one week lows, as traders remain worried Greece’s deal with creditors is far from a reality.

(Market News Provided by FXstreet)