AUDCAD moving higher (?)

The chart shows two potential ideas for a count based on Elliott wave theory. My main scenario is still bearish that will see price finishing a larg WXY formation (red color). Here, I believe price to be in a wave B (blue) of the wave Y. The alternative is that the WXY (red) has already ended and price will move higher.
For now, I´m targeting the end of wave B (blue) which is shown as a fib retracement of wave A.
Furthermore, we can see a couple of channels lining up nicely with the wave count that could provide support for future price movements.