UPDATE #4: ANALYSIS: AUDUSD - Post-FOMC Edition

So now that the FOMC for this month has come and gone with yet ANOTHER much-ado about nothing, what is happening? I've been updating this pair's price action constantly on my facebook page so if you are missing that, then there is where you will see more updates. I'm posting this update here for all as a Post-FOMC update.

For those that are in the know, you are already in on this pair and in good position for the move up. For those of you that are still on the sides because you didn't know. well, what can I say?

So the FOMC did nothing to change the picture and in fact, with the non-news coming from it, has freed this pair to rise unimpeded by fear of any impending rate hike. At least for another month. But that's all I will say about any fundamentals as it's not important now. Next FA news will be the RBA.

In any case, here I've updated the wave count to reflect the spike up post-FOMC. I'm seeing this spike as possibly as wave 1 of iii of (v) coming off the end of the wave (ii) of (v). If this is the case, then prices will not drop below where I have the end of the wave (ii) ending. A good place to look for confirmation of this move up is if prices break the extended upper TL of the completed expanding triangle.

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