AUDCAD recently reversed up sharply from the support area lying between the key support level 0.88400 (former multi-month low from October, previous sell target set in our earlier forecast for this instrument) and the lower daily Bollinger Band. Given the rising bullish sentiment affecting the Australian dollar today – AUDCAD is likely extend the gains toward the next resistance level 0.8890 (former low of the daily Morning Star form October). Strong support remains at the support level 0.88400.