$EURCAD - Testing that 1.6040 support again

Watching $EURCAD closely. It's been range-bound for a bit, and we're seeing it test that 1.6040 area again, which has held pretty well on a few occasions recently. If you look at the 4-hour, there's a clear bounce from there last week. Now, we're back down near it, currently hovering around 1.6052.

The scenario I'm looking at is for it to hold this level, maybe consolidate a bit, and then try for a move back towards the 1.6070-1.6080 resistance zone. The risk, obviously, is a clean break below 1.6040. If we get a sustained push and closure below that, particularly on a daily close, then the prior support flips to resistance, and we're likely looking at a drop towards 1.6000 or even lower. It's definitely a level to watch for confirmation before making any moves.