$CADUSD Holding Key Level – What's Next?

Been watching $CADUSD pretty closely these past few sessions, especially with all the noise surrounding rate expectations. It’s been carving out this channel for a bit, but the 0.7125-0.7130 area has really shown itself as a strong support zone on the daily. We saw it bounce hard off there earlier, and today it's just hugging the top of that range around 0.71352.

My thinking is that if we can maintain above this area, particularly if we get a strong daily close above 0.7130, then there's a good chance we could see a push towards the mid-0.71s, maybe even retesting 0.7150. The risk, of course, is a break below that 0.7125 level. If that happens convincingly, especially on higher volume, then the whole picture changes and we'd likely be looking at a move towards 0.7100 or even lower. It’s all about whether those buyers at support can hold the line. Thoughts?