DAXEUR

A horizontal-limited balance is observed around the pivot of 23,951.51 in the DAX index. If sustainability above the pivot is achieved, a retest of 24,027.78 may occur, followed by a gradual recovery towards the resistance levels of 24,139.56 and 24,233.53. Closures below the pivot could bring the support level of 23,893.73 into focus; if this level is broken, a deepening of selling pressure towards 23,763.46 and 23,669.44 seems likely. While the Eurozone CPI is expected to be in line with expectations, if the U.S. employment data comes in strong in the second half of the week, upward pressure on global interest rates may arise, leading to downward effects on the index; a weak data set, on the other hand, could support reactionary purchases.