Market structure was broken to the downside, Nzd/Cad is now creating lower lows and lower highs. Price is retracing to one of our key Fibonacci levels, which is also the previous broken low of structure. After the bears show strength in the lower time frames (1H, 4H), we can look for sells to create a possible new lower low. If the bulls show strength in the lower time frames no trade will be executed.