EURCAD currency pair recently reversed up from the strong support level 1.43300 (which has been repeatedly reversing the price from the start of October, as can be seen below), standing close to the lower daily Bollinger Band. The upward reversal from the support level 1.43300 is currently forming the daily Japanese candlesticks reversal pattern Bullish Engulfing. Given the proximity of the support level 1.43300 and the strengthening bearish CAD sentiment as seen across the currency markets today (on crude oil losses) – EURCAD currency pair can be expected to rise further toward the next resistance level 1.45000.