DAXEUR

Ahead of today's ECB interest rate decision, German manufacturing PMI data came in above expectations and remained in the contraction zone. The DAXEUR index increased by 1.5% with the decline in German bond yields. While the central bank is expected to keep interest rates unchanged at 4.5% in today's ECB interest rate decision, President Lagarde's speech is among the headlines to be followed along with US growth data due to its effects on the index. As long as the DAXEUR index moves above the 16726 - 16800 region with support from the 34-period average, positive expectations are at the forefront. In the continuation of the rise, the 17000 - 17100 level can be followed as resistance. In possible declines, the index can be expected to close below the 16726 - 16800 region for negative expectations. In this case, pullbacks towards the 16600 - 16475 levels can be observed. Support: 16700 – 16500 Resistance: 16900 – 17000