DAX 40 Sidelined as AUD/USD Rallies and Copper Price Slips The DAX 40 remains range-bound, trading between Friday’s 23,762 and 23,294 levels. A breakout above 23,762 could signal a move toward the 10 March high at 24,061, while a break below 23,294 may test the 23,000 region. Short-term momentum favors a bullish stance as long as the index stays above last week’s low at 23,294. Medium-term prospects are neutral, with a slightly bullish outlook if the 9 March low at 22,928 is maintained. Meanwhile, the AUD/USD pair rebounded sharply after the Reserve Bank of Australia’s second consecutive 25 basis point rate hike. The currency pair bounced off its $0.6980 low, with the next key resistance target at the 23 February high of $0.7112. Further upside could extend to the $0.7129–$0.7136 range. Support is expected around the 20 February low at $0.7016. Short-term traders are advised to watch for a bullish trend as long as the pair remains above the early March $0.6945 low, targeting the $0.7147–$0.7158 area. Medium-term outlook remains bullish if the $0.6897 level is held, with the January 2023 peak at $0.7158 as a potential long-term goal. Copper prices retreated from Monday’s $5.8585 high, with the metal now poised to test minor support at the early March $5.7465 low. A break below this level could revisit the $5.7000 region. Short-term traders are advised to remain neutral as long as the price stays above the early February $5.5640 low. Medium-term prospects are also neutral, with the metal likely to trade between the early February $5.5640 low and its late February $6.1413 peak. Global markets faced mixed reactions amid heightened geopolitical tensions and energy price volatility. Oil prices surged past $100 per barrel as disruptions to the Strait of Hormuz intensified supply concerns and inflation risks.#strait_of_hormuz #reserve_bank_of_australia #dax_40 #aud_usd #copper
