AUDCAD in jeopardy

AUDCAD shows bullish momentum on all TFs 8hs and lower (I´m not looking at minute charts). However, it is in my opinion trapped in between two (evtl 3 channels) as part of a bigger WXY. AUDCAD could have already finished the wave B of Y but I´ll give it more room to the upside to the 61.8 or 78.6 fib retracement before it continues down again. Two thresholds need to be taken out (purple line and minor white channel) in order to reach these two fib levels.

Please let me know what you think about my analysis!