26 Mar 2015
DAX sinks amid risk-off moods
FXStreet (Mumbai) - Germany’s benchmark index, the DAX opened with a negative gap of 145 points and extended losses thereon following downslide in its other European counterparts, while upbeat UK retail sales data failed to support the index.
Currently, the DAX 30 trades lower by -1.32% and trades at 11708 levels, bouncing-off day’s lows at 11623.50 levels. The DAX dived deep in to red as the equities were dragged lower by risk-off flows on currency markets mainly driven by Saudi Arabia’s bombing target on Yemen, boosting the yen which typically leads to lower equity prices, evident during European trading.
The index is seen trading with a negative market breadth, advance-decline ratio being 1:29. RWE AG is the sole gainer, up 0.23%. On the losing end, Infineon Technologies is down -2.97% followed by Fresenius Medical which is lower by -2.11%.
DAX Technical Levels
The index has an immediate resistance at 11744. Meanwhile, support is seen at 11531 levels and 11400 levels.
Currently, the DAX 30 trades lower by -1.32% and trades at 11708 levels, bouncing-off day’s lows at 11623.50 levels. The DAX dived deep in to red as the equities were dragged lower by risk-off flows on currency markets mainly driven by Saudi Arabia’s bombing target on Yemen, boosting the yen which typically leads to lower equity prices, evident during European trading.
The index is seen trading with a negative market breadth, advance-decline ratio being 1:29. RWE AG is the sole gainer, up 0.23%. On the losing end, Infineon Technologies is down -2.97% followed by Fresenius Medical which is lower by -2.11%.
DAX Technical Levels
The index has an immediate resistance at 11744. Meanwhile, support is seen at 11531 levels and 11400 levels.