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DAX consolidates ahead of FOMC – DAX 30 Market Outlook – 17/03/2021


German stocks closed slightly higher yesterday as health regulators offered their support to AstraZeneca’s Covid-19 vaccine. However, markets are fairly quiet this morning ahead of the US Federal Reserve interest rates decision with risk sentiment remaining overall positive thanks to hopes that the economic recovery will accelerate in the coming months. Technically speaking, the DAX index has a strong proven resistance around 14600 and the RSI drifting lower suggests declining momentum, with 14468 as next support level and target.

Support: 14468 / 14415 / 14300
Resistance: 14600 / 14700

SquaredFinancial Daily Market Outlook


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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/dax-consolidates-ahead-of-fomc-dax-30-market-outlook-17-03-2021
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