MCX-SX USD/INR DAILY TRADING STRATEGY (29/05/09)

Yesterday USD- INR June series opened at 48.01 & went up to 48.22 to mark the high of the day. It then continued to decline to make the low of the day at 47.7025 & finally closed the day at 47.7675.We see 48.20 as resistance & 47.00 as support for the day.Now the volatility is likely to subside & some form of stability will be in place.
 

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