DAX 40
BullishArchived analysis from Sep 21, 2026, 3:29 AM
Key insight
25,383 consolidates just below the 25,500 round-number resistance — a clean close above opens the path to 26,000. Breadth positive across CAC and FTSE; oil's 2.6% drop lowers input costs for German industrials.
25,383 holds near all-time highs; momentum intact above 200-day MA ~22,800 and 50-day MA ~24,600, with US equities also pressing higher and EUR/USD at 1.1477 limiting export headwinds.
Main risk
EUR strength / export margin squeeze
EUR/USD at 1.1477 compresses DAX exporters' margins; sustained move above 1.16 risks earnings downgrades for auto and industrial heavyweights.
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