MCX-SX USD-INR DAILY TRADING STRATEGY (05/06/09)

Yesterday USD- INR June series opened at 473225 & went up to 47.4150 to mark the high of the day. It then continued to decline to make the low of the day at 47.15 & finally closed the day at 47.2625.We see 47.85 as resistance & 46.80 as support for the day. A strong event  is needed to breach 46.60.At the same time inflows are strong & dollar is depreciating against all the major currencies of the world.
 

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