USD/CHF Technical Analysis: Bulls await a sustained move beyond 0.9965-70 supply zone

   •  The pair built on the overnight rebound from the 0.9900 neighborhood and continued gaining positive traction through the early European session on Thursday.

   •  The pair finally made it through 200-hour SMA for the first time in over two-week, which might now be seen as a key trigger for bullish traders and additional gains.

   •  A sustained strength beyond the 0.9965-70 heavy supply zone will add credence to the constructive outlook and accelerate the up-move towards the parity mark.

   •  Failure to clear the said hurdle and a subsequent fall below the 0.9920 region would negate the set-up and turn the pair vulnerable to resume its recent bearish trend.

USD/CHF 1-hourly chart