AUDCAD continues to rise inside the impulse wave (iii) which started earlier from the key support level 0.88340 (former resistance from the end of March). The active impulse wave (iii) belongs to the sharp impulse wave C of the medium-term ABC correction (2) from the middle of March. Given the strongly negative Canadian dollar sentiment seen across the markets today – AUDCAD is likely to rise further toward the next resistance level 0.90500 (former monthly high from January and March and the target for the completion of the active impulse wave (iii)).