USD/CAD: Range Trading?

Currently we are 1.2878 in a large range. West Texas Intermediate is rallying and the USD is correcting and the result is a chart that looks very close to the USD (see graphic). We are looking to continue to the 0.500 Fibo at 1.2840 and with a further target to the 0.618 Fibo at 1.2751 area. The average daily true range (ATR) for the pair currently is 112 pips.

USD/CAD 360 Minute Chart

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