Near a Lower High. Short.

AUDCAD is trading inside both a 1D Channel Down and a 1W Channel Down (RSI = 37.714, Highs/Lows = -0.0063). The neutral action on 1D (RSI = 46.154, ADX = 42.056, CCI = 2.5311, Highs/Lows = 0.0000) suggest that the pair is near pricing a Lower High. As you see on the chart the potential Lower Highs are indicated and can be used as short entries. Our first TP is the 1W intermediate = 0.94650 with 0.93033 in extension.