As you can see that AUDCAD has broken below the support level and pulled back nicely to that support level. I'll be looking for a bearish engulfing candle to enter short and expecting the downtrend will resume and my first tp will be at next major level which I have marked alongside sl.
However, should we not see a bearish engulfing candle then this setup will be invalid and no trade shall take place.
Let me know your thoughts. Trade safe and good luck.