NZDCAD currency pair recently reversed up from the support zone lying between the pivotal support level 0.87900, lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from the start of October. The upward reversal from this support zone created the daily candlesticks reversal pattern Bullish Engulfing – which started the active impulse wave 3. Given the strengthening bearish Canadian dollar sentiment seen today, NZDCAD currency pair can be expected to rise further toward the next resistance level 0.89000 (top of the impulse wave 1 from last month).