The DAX index edged 0.33% lower as mixed economic data came in from Germany. Moreover the Fed’s decision to keep interests rates unchanged had little impact on the German index, which is vulnerable to trade uncertainties as investors await cues from today’s US-China trade talks. On today’s economic calendar, Germany releases its employment figures and the Eurozone will deliver fresh GDP data that may highlight the region’s slowing economic performance.
The DAX is on pause in regards to its rally as it currently ranges within constricting Bollinger bands suggesting indecision and an imminent breakout that may come alongside EU’s economic data and the outcome of the Sino-US trade talks. As long as the price holds above the support at 11150, the bullish bias persists. Meanwhile the RSI has been hovering around the midline and calls for caution as a break below the support of 11150 will push prices towards the lower level at 11000.
Support: 11150/ 11000
Resistance: 11330/ 11420