Yesterday USD- INR May series opened at 47.50 & then went up to 47.58 to mark the high of the day. It then continued to decline to make the low of the day at 47.30 & finally closed the day at 47.3675. We are of the view that 48.20 is resistance & 46.90 is support for today. From today onwards we see volatility subsiding & market attaining some stability to trade.