DAX tests 19,700 as equity markets continue to take the strain

Since the last update here not that much has changed and certainly there has been no material rebound across the European equity markets. The US futures are off their worst levels though. The continued pressure here in Europe has seen the FTSE 100 fall close to the 8k mark as envisaged here earlier this morning. In relative terms to earlier, the CAC 40 is holding quite well compared to the DAX, which has traded to test the 19,700 handle. It is trying to bounce off that low just now, but not exactly making a good job of it yet. The dollar is a little higher versus the Euro, which earlier did fail to vault the 1.04 handle. So, as suspected there appears to be sellers on the rally ahead of that price point. The next technical level on the DAX is in place now at 19,590 and if 19,700 does not hold, that might soon come on the radar