While Bank of America Merrill Lynch remains USD bulls and expects the USD Index to target 84.75/85.28 in the weeks ahead, in the very short term BofA projects that intra-day charts warn of a corrective pullback toward 81.87/81.64 before the bull trend resumes. "We would use this opportunity to increase USD longs," BofA advises. "Specifically, we continue to favor GBP/USD shorts, as price continues to carve out a month-long Head and Shoulders Top. A move below 1.5438/32 completes the pattern, targeting 1.5102 and, eventually, 1.4783/1.4767 and below," BofA adds. In line with this view, BofA ... (full story)