FXstreet.com (Buenos Aires) - Mounted on negative European stocks markets, with most indexes down more than 1.5%, and U.S. futures also in negative territory, EUR/USD is barely 5 pips above the weekly low, quoting at the 1.4750 area.

Risk aversion triggered early Europe after Moody's warned that the UK and U.S. needed to address their ballooning deficits to avoid a threat to their AAA status and also downgraded 6 more Dubai issuers, keeps favoring greenback across the board.

As mentioned, EUR/USD quotes at the 1.4750 level, and keeps falling at the time of writing, having reached an intraday low of 1.4737 so far. Next support, comes at the 1.4690/4700 area, congestion zone formed by several daily lows from past November; next in line, comes at the 1.4620 level, 61.8% retracement of the monthly fall 1.6038/1.2330, also past November monthly low.