DAXEUR

The ECB left the policy rate unchanged at 4.5% as expected the day before, while the positive perception in the markets regarding the interest rate cut process increased the risk appetite in European stock markets. While European bond yields fell, the DAXEUR index managed to finish the day in positive territory despite the pullbacks at the end of the session with a premium. The PCE data to be announced in the US today can be followed in terms of its impact on index movements. As long as the DAXEUR index moves above the 16800 - 16900 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 be suppressed around the 17100 resistance and close below the 16800 - 16900 region for negative expectations. In this case, pullbacks towards the 16726 - 16600 levels can be observed. Support: 16726 – 16600 Resistance: 17000 – 17100