USDCAD sell soon?

So recently the USDCAD uptrend took a nasty fall and fell over 500 pips. Most likely for the short-term, this downtrend will continue. Especially as oil has broken above key resistance levels as well. This should assist in pushing USDCAD lower.

USDCAD is now currently in retracement mode and reaching potential areas to short. As in the diagram below, the first level to look at is the 38.2 fib level. If it goes through there, then its the 50 level which is also in line with the 200 SMA which should provide some strong resistance.