AUDCAD - pinbar at 38% fib retracement

I entered this trade because a very nice pinbar appeared at 38% retrace. Price did climb higher but with no conviction and it looked as though bears were still very present, so I closed out for a small loss.

Looked like we might be in a corrective phase, compared to the strong bearish candles from last week. Not really sure why there is so much indecision on this pair.