Canadian dollar has been under the cosh this week. The currency made a new low for the year after U.S. taxed Canadian lumber and another one yesterday after the talk that the U.S. is about to withdraw from NAFTA. However, Trump agreed with leaders of Canada and Mexico not to terminate NAFTA and the currency staged a rebound.

I took only two hours for the USD/CAD to fall from 1.3650 to 1.3530 before buyers stepped back in. 1.3535 (March high) is the immediate support. A stronger one may be encountered between 1.3450 and 1.35. 1.36 - 1.3650 could see some selling.

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