AUDCAD under bearish pressure today following the earlier sharp downward reversal from the resistance area lying between the powerful resistance level 0.91100 (which has been steadily reversing the pair from September) and the upper daily Bollinger Band. This downward reversal created the candlesticks reversal pattern Bearish Engulfing. Given the strength of the aforementioned resistance area, clear daily downtrend and the widespread bearish Australian dollar sentiment – AUDCAD is likely to fall further toward the next round support level 0.90000 (low of the previous minor correction 2 from the start of December).