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EUR/AUD sees a small bounce after AUD was hammered lower on poor Capex data, but downtrend in the pair still intact.
- Doji formation seen in yesterday trade, but a fresh 1.4577 low keeps downtrend in play
- Momentum is weak, 5, 10 & 20 DMAs head south reinforcing bearish setup, but Daily Stochs are at oversold so caution advised
- The pair is currently trading at 1.4690, Asian 1.4618/1.4715 range is initial support/resistance
- Rallies should provide good entry points, targets remain at 1.44, and further below at 1.4360 levels
- Bearish invalidation on breaks above 1.50 levels
