# USD/CHF Long-Term Reversal (February 20, 2014)

Source: https://www.tradersway.com/resources/market-info/usd-chf-long-term-reversal-february-20-2014/
Language: en
Updated: 2014-02-20

USD/CHF is currently testing a major support level, as can be seen on the longer-term time frames. This is in line with the .8900 major psychological level which has held for the past few months. Stochastic has reached the oversold region, indicating a potential bounce.



At the same time, a spinning top candlestick has formed right on the support level. A close above the spinning top’s high for the next daily candle could confirm the potential rally.



![USD/CHF Long-Term Reversal (February 20, 2014)]



Setting a buy stop order above that high with a stop below the previous spike to the .8800 handle and a target near the previous highs around .9100 could yield a good return on risk for a longer-term trade.



*By Kate Curtis from Trader’s Way*