DAX slips amid ongoing Greek talks

FXStreet (Mumbai) – Germany’s benchmark index, the DAX snapped previous gains and edged lower today tracking losses from its European counterparts as a rising euro and looming Greece concerns continue to weigh on the German stocks.

Currently, the DAX 30 trades -0.37% higher at 11726.50 levels, retreating from 11681 session lows. The DAX trades in red as traders in the region continue to monitor developments in Greek talks, while traders were also affected by downbeat second estimate of the UK’s first-quarter GDP. Moreover, a stronger euro across the board also dented exporters’ stocks dragging the index lower.

The index is seen trading with a negative market breadth, the advance-decline ratio being 11:19.
Infineon Technologies is the top gainer up 4.14% followed by Fresenius Medical up 1.24%. While Deutsche Post is down -3.23% on the day, followed by Bayer AG which is losing -2%.

DAX Technical Levels

The index has an immediate resistance at 11800. Meanwhile, support is seen at 11586 levels and 11410 levels.

Germany’s benchmark index, the DAX snapped previous gains and edged lower today tracking losses from its European counterparts as a rising euro and looming Greece concerns continue to weigh on the German stocks.

(Market News Provided by FXstreet)