AUDCAD Minor Forex Pair

The AUDCAD forex pair has reacted for the third time to the supply area established back in December of last year. The reaction from the price yesterday in the zone was strong, and now that the London session has started, the bears are driving the price down further as we begin to break the higher low structure. 

Price Action on the 4-Hour Chart

I've scaled down to the 4-hour chart, and although the bearish impulse breaking the higher structure is currently quite weak, I would like to see the price continue to decline with more bearish momentum. This would help me identify a suitable trading setup. I will keep an eye on this pair and provide an update when we observe more bearish price action.  

Update: Now We Have New Price Action

During the US session overnight, the bulls pushed the price back into the supply zone. From this point, the price could either break through this area and begin forming new higher highs and higher lows, continuing the uptrend, or it could take a bearish turn. I am leaning towards a bearish move, but that will only occur if the price breaks the higher low structure established during yesterday's bullish movement.