Looking at $EURCAD H4, potential range setup near 1.6042

Been watching $EURCAD on the H4 chart. It's sitting right at 1.6042, which has acted as a bit of a pivot point lately. The daily range today is 1.6042–1.6042, which is obviously very tight and implies some indecision or a lack of strong drivers. I'm wondering if we're setting up for a potential range-bound scenario here, with 1.6042 as the approximate midpoint.

My thoughts are that if we see a clean break and sustained move below, say, 1.6030, that would invalidate the range idea for me, at least in the immediate term. Conversely, a strong move above 1.6050 would also suggest something else is at play. It's just a level to watch for now, not making any strong calls.