Thoughts on EURCAD at 1.6042

I've been watching $EURCAD closely around the 1.6042 level. It feels like a significant pivot point, potentially signaling further downside if it fails to hold this retest. My concern, however, is that a strong bounce here, especially if we see some unexpected CAD weakness, could invalidate that bearish outlook pretty quickly, pushing us back towards previous highs. The lack of clear direction today is making me hesitant to lean too heavily either way, but the risk of a false breakdown around these levels is high.