Forex: USD/CAD finds support at 1.0490 and bounces back above 1.0500

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FXstreet.com (Barcelona) - Dollar decline from levels around 1.0570 on European session, has found support at 1.0490, and the pair has bounced back, returning above 1.0500 after U.S. Persnal Income data, to reach levels at 1.0520 at the moment of writing.

On the upside, the pair could find resistance at 1.0540 previous low, and above here, 1.0575 session high, and above here 1.0620/30 (Dec 22 highs).

In case of further decline, support levels lie at 1.0480 (Dec 7, 10 and 11 lows) and below here, 1.0435 (Dec 4 low) and 1.0405 (Dec 1 low).

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