USDCAD: Potential selling opportunity!

USD/CAD potential sell setup.
Pair has broken the daily Support area of 1.30150. Making that area a new resistance zone, market has been making lower lows in past structure. Patiently waiting the this pair to potentially retrace back into the 0.50 or 0.618 Fibonacci zone. If the pair gets to that zone it can drop to a new lower low into the .127 Fibonacci extension, around the price of 1.29000.

Reasons-
- Pair is in a downtrend
-broke daily support making it into a resistance area.
-US dollar index may be weakening causing the pair to drop to lower levels.