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EUR/CHF chart - Trading View
EUR/CHF was trading at 1.0715 at around 10:30 GMT, with session highs at 1.0728 and low at 1.0700.
Recovery attempts in the pair was rejected at 20-DMA on Monday's trade, the pair is resuming downside.
Data released by the German Federal Statistics office earlier on Tuesday showed the German economy grew faster than expected in the second quarter, but the single currency is largely unimpressed.
German Q2 GDP rose at 1.6% on the quarter, climbing 9.4% on the year, a sharp rebound from the first quarter’s -1.8% decline.
The euro remained depressed after Bundesbank's announcement on Monday that the country may miss full-year growth targets due to the delta variant.
Technical studies support downside in the pair. Price action is below cloud and major moving averages.
Downward spiral in the pair is likely to continue. Next major bear target lies at 1.0660 (Nov 2020 low).
