I think AUD/CAD is neutral-bullish in the medium to long-term. Let's take a look at the weekly chart.AUD/CAD Monthly Chart 2/10(click to enlarge)The monthly chart shows that AUD/CAD was bullish since the end of 2008 through 2011. After a period of consolidation in 2012, price came down in 2013. So we can say that in the medium-term, price has been neutral and maybe even bearish. But, at the end of 2015, AUD/CAD rallied sharply, breaking above a falling trendline and neutralizing the bearish mode. It is now at least neutral if not bullish.The thing is, in 2016 so far, AUD/CAD has been bearish again. To me this bearish swing so far should be treated as a bearish correction against the prevailing push from 0.9160 to above 1.0. AUD/CAD Daily Chart 2/10(click to enlarge)As we track the bearish correction in the past month and change, we can see in the daily chart that price has retraced 38.2% of the prevailing uptrend. Price action seems to suggest further downside risk. Since I am not seeing price bottom here around 0.9770, I want to want for price to approach the 61.8% fibonacci retracement level around 0.9540. Note that around 0.9575, we have a support/resistance pivot. I think if we see price stall and start to bottom in this 0.9550-0.96 area, we should consider a buy. My first target would be the 1.00 handle, with the 1.0165 high as the second target. A break below 0.95 on the other hand would put this bullish outlook on the shelf.