Daily Forex Technicals | Written by Kshitij Consultancy Services | Dec 12 08 12:09 GMT |

FX Thoughts for the Day USD-CHF @ 1.1787/91...Supported at 1.1750 R: 1.1852-62 / 1.1960-74 / 1.1903-12 S: 1.1660-35 / 1.1609 / 1.1351 As mentioned in the morning, the Support near 1.1750 held. Swiss had during the day traced a low of 1.1753. This is a strong Support both on the daily as well as the weekly charts. To see the chart of Swiss, click on: http://www.kshitij.com/graphgallery/chfcandle.shtml#candle If a break below 1.1750 is seen during the US session, the pair could possibly move sharply towards 1.1640 (13-week MA) and take Support there. We continue that if it manages to hold on to 1.1750 Support and bounces back from there, it could potentially intend treading the higher end of the broader channel once again. GBP-USD @ 1.4942/45...Range of 1.4850-1.5100 held R: 1.5014-31 / 1.5286-89 / 1.5319 S: 1.4863 / 1.4824 / 1.4752 The Range mentioned for Cable held during the day as the pair recorded a high of 1.5102 and a low of 1.4852. During the US session, a fall from here on could take it towards 1.4803. A further dip could be restricted to 1.4752. A rise towards 1.5125 may not be ruled out as well. On a broader picture, the pair looks ranged between 1.45 and 1.55 over a long term. It could potentilly move towards 1.55 and then come down near 1.45 over the next few days/couple of weeks. AUD-USD @ 0.6559/64...Supported at 21-day MA R: 0.6593-618 / 0.6641 / 0.6841 S: 0.6535-07 / 0.6498-75 / 0.6379-61 Aussie had dipped towards 0.6489 during the Asian session today and has bounced back a little since then. In the process, it took Support at the 21-day MA (0.6488) and is now facing Resistance from the 21-SMA on the 4-hour chart (at 0.6601). It continues to oscillate between 0.60 and 0.68 over long term which is more confirmed by the fact that rise past 0.68 was restricted during the US session yesterday. To see the chart of Aussie, click on: http://www.kshitij.com/graphgallery/audma.shtml#ma Kshitij Consultancy Service http://www.fxthoughts.com Legal disclaimer and risk disclosure These views/ forecasts/ suggestions, though proferred with the best of intentions, are based on our reading of the market at the time of writing. They are subject to change without notice.Though the information sources are believed to be reliable, the information is not guaranteed for accuracy. Those acting in the market on the basis of these are themselves responsibly for any profits or losses that might occur, without recourse to us. World financial markets, and especially the Foreign Exchange markets, are inherently risky and it is assumed that those who trade these markets are fully aware of the risk of real loss involved.