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22 May 2015
DAX trades muted, shrugs off upbeat Ifo
FXStreet (Mumbai) - Germany’s benchmark index, the DAX opened in red and trades subdued as markets were left unimpressed by above estimates German Ifo figures while a stronger shared currency also kept the index pressured.
Currently, the DAX 30 trades -0.15% lower at 11845 levels, hovering close to 11837.30 lows. The DAX trades weak after the Ifo survey failed to lift the index. While markets now await speeches from a number of central bankers' scheduled today, which may influence trading as well.
The index is seen trading with a negative market breadth, the advance-decline ratio being 13:17. RWE AG is the top gainer up 1.78% followed by Deutsche Boerse up 0.56%. While Deutsche Telekom is down -2.78% on the day, followed by Deutsche Bank which is losing -1.97%.
DAX Technical Levels
The index has an immediate resistance at 11900. Meanwhile, support is seen at 11700 levels and 11619 levels.
Currently, the DAX 30 trades -0.15% lower at 11845 levels, hovering close to 11837.30 lows. The DAX trades weak after the Ifo survey failed to lift the index. While markets now await speeches from a number of central bankers' scheduled today, which may influence trading as well.
The index is seen trading with a negative market breadth, the advance-decline ratio being 13:17. RWE AG is the top gainer up 1.78% followed by Deutsche Boerse up 0.56%. While Deutsche Telekom is down -2.78% on the day, followed by Deutsche Bank which is losing -1.97%.
DAX Technical Levels
The index has an immediate resistance at 11900. Meanwhile, support is seen at 11700 levels and 11619 levels.