DAX trims losses, regains 11k amid Greek chatter

FXStreet (Mumbai) – Germany’s benchmark index, the DAX rebounded sharply from lows and wiped out most losses as traders focused on the latest batch of Euro zone data including the EZ CPI figures which provided some relief to the investors. However, the index remains largely subdued awaiting fresh cues on Greece while referendum polling commences.

Currently, the DAX 30 trades nearly -0.33% lower at 11046.30 levels, recovering from fresh two lows at 10899. The German stocks extends losses for the second straight session as the Greece debacle continues to weigh on the market sentiments as investors widely expect Greece to default on its debt obligation to the IMF today.

The index trades with a positive market breadth with advance-decline ratio of 20:10. K+S AG leads the index, up 2.57% while Deutsche Boerse follows, gaining 1.02%. Infineon Technologies is the top loser so far, losing -1.11%, followed by Beiersdorf AG, down -0.80%.

DAX Technical Levels

The index has an immediate resistance at 11200. Meanwhile, support is seen at 10865 levels and 10806 levels.

Germany’s benchmark index, the DAX rebounded sharply from lows and wiped out most losses as traders focused on the latest batch of Euro zone data including the EZ CPI figures which provided some relief to the investors. However, the index remains largely subdued awaiting fresh cues on Greece while referendum polling commences.

(Market News Provided by FXstreet)