Technical analysis of the DAX 40 as it recovers while AUD/USD, copper prices slip to multi-month lows.
DailyFX Real Time News 2026-06-25 13:17:02
Context: The DAX 40 index has recovered from recent declines, while AUD/USD and copper prices have dropped to multi-month lows. This market movement is influenced by various factors, including Micron's earnings report, which revived the AI rally, and expectations of further Federal Reserve rate hikes. The shifts in these markets have also been affected by developments in oil prices, the yen's slide towards a 40-year low, and the decline in gold prices.
Key Facts
- The DAX 40 index has bounced off its low of 24,594, with the next upside target being the 5 June high at 25,024, and minor support may be spotted around the 17 June low at 24,764.
- AUD/USD has fallen to a 2 1/2 month low, with the early April low and 200-day simple moving average (SMA) at $0.6860-to-$0.6855 getting closer, and a potential next target being the late March trough at $0.6834.
- Copper prices have dropped to a six-week low at $5.8951, with a potential next target being the 200-day simple moving average (SMA) and early May low at $5.8075-to-$5.7732, and resistance found between the 19-to-28 May lows at $6.0806-to-$6.1805.
- Micron's earnings report added over $400 billion in chip stock market value, with Micron surging 12% in extended trade after customers committed $22 billion to secure memory chip supply.
- The yen has slid towards a 40-year low, with the dollar index at a 13-month high, and the prospect of coordinated central bank intervention raised after Tokyo's unilateral effort in May failed to halt the currency's decline.