USDCAD path and direction

Hello everyone this is my analysis on USDCAD on daily time frame ..

Few things I would like to point out .. USDCAD started a downtrend since late march ..
So far we are in this downtrend channel between red line and green line ..
Price is respecting both trend lines .. so we try to make plans on how to trade this pair ..

Bearish ( sell thesis )
We are in a strong downtrend .. so we remain sellers as long as price doesn't close above red line ( upper trend line of the downtrend)
We can sell from red line to target green line as long as no ( daily candle close above red line )

Bullish ( buy thesis )
We buy from green line to target red line as long as ( no daily candle close below green line )
If price breaks red line ( daily candle close above red line ) we can buy to target good supply zones above
as long as price doesn't close below red line ..

Few things to point out ..
First regarding RSI price shows in downtrend respecting the red line Divergence in RSI

Two USDCAD .. Broke a very important monthly uptrend line in the RSI indicator .. as shown in chart below .. which is very bearish for USDCAD ..

three .. Even though price is very bearish .. if we look at DXY chart below ... Dollar could be bottoming .. price is testing very important support .. which could lead USDCAD to break the downtrend ..

for any question feel free to ask :)