EURCAD currency pair recently reversed up from the key support level 1.29650 (which stopped the previous sharp minor impulse wave 1 in the middle of July), standing close to the lower daily Bollinger Band. The upward reversal from the support level 1.29650 stopped the earlier minor impulse wave 3 – which belongs to the intermediate impulse wave (5) from the end of May. Given the strongly bullish euro sentiment seen across the FX markets today, EURCAD currency pair can then be expected to rise further toward the next resistance level 1.32000.