Can the DAX maintain rebound momentum after ZEW data?

Following on from the previous update, noting the surprising drop in the ZEW outlook reading, the EUR/USD is still seemingly deciding what to do with that data. Meantime, the DAX has been on the rebound today. The index officially reopened at 20,925 following a close yesterday at 20,990. Not long after the opening the index rose close to the 21k handle again, peaking at 20,997. It is trying to push back above that level just now, following the ZEW. On the face of it, there is nothing in that ZEW report to underpin the topside, but of course the prospect of more ECB rate cuts down the road is a supporting factor. So, it remains to be seen right now, if the DAX can reclaim that 21k handle again, or remain below it, as it has so far this morning. The index is trading right now at 20,993