Economists at Credit Suisse expect the EUR/USD pair to test their 1.0900/44 target where they are then biased to look for a top.

Move below 1.0198 needed to see more significant decline

“Our broader outlook stays constructive for strength back to and above 1.0788 in due course for a test of trend resistance from early 2017 and the 50% retracement of the 20211/2022 fall at 1.0900/44, with a better cap expected here to define the top of a broader range. Should strength directly instead extend, we see next resistance at 1.1185.”

“Support is seen at 1.0483 initially, with 1.0290 ideally holding. Below support at 1.0198 is needed to warn of a potentially more significant decline with support then seen next at parity/0.9935. Below here can re-expose the 2022 low at 0.9537.”