EUR/CHF has been quite bearish today after bouncing off the 1.1750 price area. As of the worse economic reports on the EUR side and CHF showing positive Trade Balance report, the bearish pressure on the pair is expected to sustain further in the coming days. Today, EUR German PPI report was published with a decrease to -0.1% from the previous value of 0.5% which was expected to be at 0.1%, German ZEW Economic Sentiment report also showed a decrease to 5.1 from the previous figure of 17.8 which was expected to be at 13.1, and EUR ZEW Economic Sentiment report was also published with a significant decrease to 13.4 from the previous figure of 29.3 which was expected to be at 28.1. On the CHF side, today Quarterly SECO Economic Forecasts report was published with major GDP Components discussion including Consumption and Investment in the country where the GDP growth is expected to be strong to 2.4% throughout 2018. The hawkish report helped the currency to gain momentum whereas Trade Balance report published with a significant increase to 3.14B from the previous figure of 2.07B was also an additional boost for CHF to gain further momentum over EUR. As of the current scenario, CHF is expected to continue its pressure on EUR in the coming days which may result to further impulsive bearish sustainable price action.

Now let us look at the technical view. The price is currently residing at the edge of breaking below the 1.1715 price area from where if it is broken, further bearish pressure towards the 1.16 support area is expected. The price action had Bearish Continuing Divergence in place whereas the bearish pressure is expected to be quite impulsive in nature. A daily close below 1.1700 is expected to inject impulsive bearish pressure in the pair with target towards 1.16 as the price remains below 1.1750.