NZDCAD continues to rise sharply after the earlier breakout of the key, multi-month resistance level 0.88000 (which has been steadily reversing this currency pair from the end of December). The breakout resistance level 0.88000 accelerated the active short-term impulse wave 5 of the medium term impulse wave (C). Given the strongly bullish New Zealand dollar sentiment seen across the currency markets today – NZDCAD is likely to extend the gains toward the next resistance level 0.89000 (target price for the termination of the active impulse wave 5)