Having only been targeting 0.98 initially, economists at Credit Suisse had already admitted implicitly that their original Q4 target of 0.92 would not come close to be hit in 2022: they now set their end-Q4 EURUSD target at 1.0350.

1.0610 seems an appropriate near-term magnet

“We now target EURUSD 1.0350 by end-Q4.” 

“The EURUSD 1.0130 post-CPI low will be a tough level to crack again on for the remainder of Q4: we make this our new support level expectation.”

“On the topside, 1.0610 seems an appropriate near-term magnet.”