Forex technical analysis: USDCAD trades under 50% retracement level

Oil higher but in middle of the range
The USDCAD is trading below it’s 50% of the move up from the April 12 low. That comes in at 1.35076.  The last 5 hourly bars has closed below that MA level.  It is a close risk level intraday for traders.   Traders who are short want to see the price stay below that level. We are currently trading near it. If it starts to trade and close back above shorts may look to buyback shorts.