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The DAX is still struggling despite better German data
Earlier this morning the DAX did reopen below its 200 day moving average. By the way, that is still rising and in place today at 15,549. The index reopened at 15,473 and traded to as low as 15,471. It then rebounded to as high as 15,544 which was just short of that key moving average. Another drop back towards 15,500 was then followed by another attempt on the topside after the better than forecast German PMI data. However, that rebound has not yet reclaimed the moving average so far and the index is edging back underneath 15,500 again. So, look I hope you can see how the price action has evolved so far today and just how relevant that 200 day moving average is to it. The DAX is just now trading at 15,495
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So, we have had a whole host of PMI data from Europe this morning and later this afternoon, at 1.45pm GMT we will get the equivalent data from the US...
