The Bangladeshis celebrated a rare win at the tournament with a 105-run victory over the newcomers in Canberra on Wednesday, but now face a steeper challenge against the hosts in Brisbane on Saturday.
Mushfiqur was named man of the match in Canberra for his top-scoring 71 off 56 balls in Bangladesh's innings of 267.
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"Australia are probably the number one team at the moment the way they are playing, so it's not going to be easy but it won't be impossible either," Mushfiqur told reporters.
"In the one day game anyone can win on the day. Ireland beat the West Indies even with a big chase and they did it with 40 balls remaining, so anyone can win in this game.
"Obviously, going into the weekend's match everyone is expecting Australia will win easily, so hopefully we have something to say about that and all the boys are really geared up for that match.
"If we can do the right things well I think we have the potential to also do well in some of the big matches.
"We are looking forward to that challenge against Australia, Sri Lanka and England and other teams in our group.
"The confidence of our win tonight will help us and there are some areas we need to work on. The spirit is there in the group and hopefully we can click on the day."
Mushfiqur, who helped revive Bangladesh's innings with a stand of 114 runs for the fifth wicket with top-rated all-rounder Shakib Al Hasan, said his team needed a thumping win over Afghanistan having lost to their rivals at last year's Asia Cup.
"Everyone knows that we came to the game as favourites and all the expectations were on us to deliver the goods with our fans coming from all over Australia and also all back home," he said.
"We needed a really good win and that's been done. It was not an easy win, but it was a comprehensive win.
"It's a great feeling and as it was the first game everyone was a bit nervous and then everyone calmed down.
"The guys are still learning day by day and I think it was a case of spending time in the middle and looking for some boundaries and not go for all out shots. It was a great feeling batting with Shakib.
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