EUR/CHF chart - Trading View
EUR/CHF was trading 0.05% lower on the day at 1.1000 at around 08:40 GMT, extending weakness for the 6th straight session.
The pair hit 5-week lows at 1.0992 before trimming some losses to trade at 1.10, outlook remains bearish.
The single currency found some bids after upbeat German Industrial Production data which showed that recovery in German manufacturing sector may have regained traction.
Data released earlier today showed Industrial Production in Germany rebounded sharply in February, to 3.6% MoM, beating expectations at 2.4% and compared to a-3.5% fall last month.
On an annualized basis, the German industrial production plunged by -6.4% in February versus a -4.0% drop recorded in January.
EUR/CHF trades with a bearish bias. The pair is testing cloud support. Break into daily cloud will drag the pair lower.
Next bear target lies at 55-EMA at 1.0977 ahead of 38.2% Fib at 1.0963. Bounce off cloud support and retrace above 5-DMA negates any bearish bias.
