EURCAD: Watching the 1.6042 Level for Support/Resistance

Been keeping an eye on $EURCAD lately, and it seems to be hovering right around the 1.6042 mark. This level has been interesting, acting as both support and resistance at different times over the past few weeks. Today, it's trading right at that price, and I'm curious to see if it holds as resistance or if we push through.

My thinking is, if we see a clear rejection from 1.6042 with some volume behind it, that could signal a further downside move. Conversely, a sustained break above it could open up a path towards higher levels. The risk to this perspective, for me, would be any sudden macro news that completely overrides the technicals, or if it just chops around this level without a clear direction, invalidating the setup for now.