AUDCAD recently reversed up from support area located between the key support level 0.94800 (which has been steadily reversing the price from the start of December) and the lower daily Bollinger Band. The upward reversal from this support zone stopped the previous sharp downward impulse wave from the middle of April. Given the oversold reading on the daily Stochastic indicator and the clear bullish Canadian dollar sentiment seen across the FX markets today – AUDCAD currency pair can be expected to rise further toward the next resistance level 0.95500.