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Forex pairs in this Article » EUR/USD
FXStreet (Edinburgh) - The single currency is rapidly depreciating against the greenback on Thursday, dragging the EUR/USD to the area of 1.3660/55.

EUR/USD lower on risk aversion

The risk-off sentiment continues to prevail today, pushing spot to 2-week lows and challenging the key 55-day moving average around 1.3650 at the same time. Next on tap in the euro docket will be the German jobless rate, with consensus expecting to stay put at 6.8% and unemployment to decrease by 10K in February. “The euro may remain on a slightly weaker footing heading into next week’s ECB meeting especially if euro zone inflation disappoints in February”, argued Lee Hardman, Currency Analyst at BTMU.

EUR/USD levels to watch

As of writing the pair is losing 0.19% at 1.3659 and a breakdown of 1.3656 (55-d MA) would expose 1.3652 (daily cloud top) and then 1.3628 (100-d MA). On the flip side, the initial hurdle aligns at 1.3719 (10-d MA) followed by 1.3768 (high Feb.25) and then 1.3773 (high Feb.19).
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