USD/CHF continues its correction, drops toward 1.0200

USD/CHF is falling for the second day in a row as it continues to retreat fro multi-year highs that reached last week at 1.0342. The pair recently printed a fresh daily low after the assassination of the Russian ambassador to Turkey. 

The US dollar bottomed at 1.0220 and it was trading at 1.0230, still holding a bearish tone. The Swiss franc also reached new daily highs versus the euro and the pound. 

USD/CHF outlook 

The pair is still 120 pips above the level it had before the FOMC decision. The main trend continues to favor the US dollar. 

To the downside, the next key support could be seen at 1.0190; a consolidation below could open the doors to a more significant correction. If the US dollar manages to remain on top, a test of 2016 highs remains likely.