Yesterday USD- INR July series opened at 48.20 & rose to 48.30 to register the high of the day. It then continued to decline to make the low of the day at 47.9775 & finally closed the day at 48.01.We see 48.45 as resistance & 47.35 as support for the day.  However the current down leg started since 23rd June is the terminal leg of very large pattern. Therefore it warrants a strict stop for any shorts.