AUDCAD waiting for confirmation.

We are currently sitting on lows areas which have been tested 4 times since 2013, we have seen the market rally on all of these occasion. If however we see a break we could see lows back from 2010 are drops in the region of 550 Pips.
On the other hand we could see a rally back up to test the descending trend line which could be a bullish move of 300 Pips. Either way we will be looking for an entry depending on what we see once the market opens.