17 Dec 2014
DAX weakens on easing Euro zone price pressures
FXStreet (Mumbai) - Germany’s benchmark index, the DAX, opened with steep losses and continued to trade lower during the mid-European session, snapping a brief recovery witnessed in the previous session.
Currently, the DAX 30 trades at 9514.50 levels, down -0.52%, compared to yesterday’s close of 9563.89. The DAX weekend after Euro zone price pressure eased to 0.3% in November from 0.4% in the preceding month. The index edged down as the lower inflation print sparked deflation fears in the Euro zone.
DAX Technical Levels
The index has an immediate resistance at 9572 (Dec 16 High), above which gains could be extended to 9663.64 (50-day SMA) levels. Meanwhile, support is seen at 9469.14 (20-day SMA) and 9413.36 (10-day SMA) levels.
Currently, the DAX 30 trades at 9514.50 levels, down -0.52%, compared to yesterday’s close of 9563.89. The DAX weekend after Euro zone price pressure eased to 0.3% in November from 0.4% in the preceding month. The index edged down as the lower inflation print sparked deflation fears in the Euro zone.
DAX Technical Levels
The index has an immediate resistance at 9572 (Dec 16 High), above which gains could be extended to 9663.64 (50-day SMA) levels. Meanwhile, support is seen at 9469.14 (20-day SMA) and 9413.36 (10-day SMA) levels.