USD/CAD sellers fail at 1.4010 support as buyers regain control

USD/CAD initially tested the key 1.4010 support level during Monday's session, with sellers attempting to push below this critical swing low. The pair started near the support zone between 1.4010-1.40268, trading beneath the 38.2% Fibonacci retracement at 1.40212. Despite initial bearish pressure that drove prices below 1.4010, sellers failed to maintain momentum through seven consecutive hourly candles. The lack of follow-through selling allowed buyers to step in and reclaim the level, suggesting the downside move was exhausted. This price action indicates strong buying interest at these levels, with the 1.4010-1.40268 zone now established as significant support. Technical traders are watching for a potential rebound toward the 38.2% Fibonacci level at 1.40212, which could serve as initial resistance. The failed breakdown suggests USD/CAD may consolidate above support before determining its next directional move.