FxWirePro: EUR/CHF Daily Outlook

Chart - Courtesy Trading View 

EUR/CHF was trading 0.09% lower on the day at 0.9858 at around 12:10 GMT.

The pair is grinding lower for the 3rd consecutive session, price action is testing 110-EMA support.

German trade surplus widened to €3.7B in September, while Unemployment for October increased by 8K persons and the Unemployment Rate stay unchanged at 5.5%. 

Additionally, German final Manufacturing PMI eased to 45.1 during last month and fell to 46.4 in the broader Euroland.

Hawkish comments from the European Central Bank (ECB) officials help limit losses in the pair. 

ECB policymaker and Bundesbank President Joachim Nagel was quoted saying by a German newspaper that the central bank has a long way to go before it is done with interest rate hikes.

Further, ECB member Pablo Hernandez de Cos mentioned that "nobody knows how far we have to raise interest rates." 

Earlier on Tuesday, ECB President Christine Lagarde said that the possibility of a recession has increased and also added that the central bank “hasn't reached the destination on rates yet.”

EUR/CHF pivotal at 110-EMA support, breach below will drag the pair lower. Dip till 21-EMA at 0.9813 likely.