NZDCAD recently reversed up from the key support level 0.85000 (former powerful resistance from September and October). The upward reversal from this support level started the active impulse wave 3 – which belongs to the medium-term upward impulse sequence (C) from the start of November. Given the strengthening bullish sentiment affecting the New Zealand dollar – NZDCAD is likely to remain under the bullish pressure and to rise toward the next resistance level 0.86000 (top of the previous short term correction 4 from the start of August)