OctaFX | OctaFX Forex Broker
Open trading account
Back

DAX soars 1%

FXStreet (Mumbai) - The German equity index has gained more than 1% today, taking cues from its Asian peers. Moreover, the investors are reacting to the rally through US and Asian markets.

The Dax is trading 1.24% higher at 9107 at the time of writing. All major sectors have posted gains except the Food and Beverage stocks, which are trading down by 5.58%. The utilities are marginally down by 0.25%.

Off-late, the Index has tested the critical support levels around 9000 and the dovish Federal Reserve (Fed) minutes provides a reason for the bounce back. However, gains may be capped after the official German data showed exports fell 5.8% in August, their biggest fall since January 2009.

Dax Technical levels

The Index has an immediate resistance of 9140 (5-day moving average), while the support is located at 9048 (low of 12th Aug, 2014).

EUR/GBP has a dream – to break 0.79

EUR/GBP spent most of the Asian trades around 0.7870, before a splash of demand on the euro helped the pair to reach 0.7890.
Read more Previous

AUD/USD now points to 0.8933 – OCBC Bank

The upbeat tone persists around the Aussie dollar, with its next target being the retracement at 0.8933, suggested Emmanuel Ng, FX Strategist at OCBC Bank...
Read more Next
Start livechat