Watching USDCAD at the 1.4080 Level

Been keeping an eye on $USDCAD this morning, and it feels like we're consolidating around the 1.4080 level. There's a decent amount of traffic there from previous weeks, suggesting it's an area of interest for both sides. I'm looking for a clear break and sustained close either above 1.4090 or below 1.4070 to give some direction, but until then, it could just chop around. The risk to my current thinking of a range-bound move is a strong directional push on either a macro announcement or a significant shift in oil prices, which could easily blow past these minor levels. Just observing for now, no strong convictions yet.