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USDCAD potential short?

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Dólar Americano/Dólar Canadense (FX:USDCAD)  
eraxular  
FX:USDCAD   Dólar Americano/Dólar Canadense
Trend Analysis Chart Patterns Technical Indicators
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Hi guys, this is just a quick and simple analysis on USDCAD for a potential sell. USDCAD has had a lovely sell off recently and I can't see any reason for it to not carry on selling off.
Price is respecting R1 and has rejected it.
Price has formed a bearish engulfing on the 4HR.
Price has shown high volume of bearish momentum.

Let me know what you guys think of this!!
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