Bank of America FX Technical Strategy Research notes thatApril carries a bearish tone for the USD Index 'DXY'. "During the month of April, the DXY has declined 9 out of the last 11 years for an average of -1.51%. Since the euro started trading in 1999, the DXY has declined 12 out of 18 times in April for an average of -.75%. The thirty year seasonal trend is also down in April," BofAML notes. In addition, BofAML notes thatintermediate term Elliott wave count shows DXY price is in wave “c” of a correction and this pattern suggests the DXY reaches at least 97.50. Back to seasonals, BofAML notes that April carries a ... (full story)