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FxWirePro: USD/CAD extends gains as U.S. dollar gains momentum after strong U.S. NFP data 
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- USD/INR is currently trading around 71.05 marks.
- It made intraday high at 71.07 and low at 70.96 marks.
- Intraday bias remains bullish till the time pair holds key support at 70.68 mark.
- Key resistances are seen at 71.22, 71.47, 71.68, 71.90, 72.17, 72.42, 72.68 and 72.89 marks respectively.
- On the other side, initial supports are seen at 70.68, 70.47, 70.32, 70.10, 69.76 and 69.48 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- India’s NSE was trading 0.73 pct lower at 12,278.25 points and BSE sensex 0.57 pct lower at 41,704.55 points.
We prefer to take long position on USD/INR around 71.00, stop loss at 70.80 and target of 71.22/71.47 mark.
