Analysts at Goldman Sachs are out with their revisions to the EUR/USD forecasts for the coming months.

"We are revising up our 3- and 6-month EUR/USD forecasts to 1.05 (from 1.02 previously) to account for the recent deterioration in the US growth outlook and less favorable tightening mix for the Dollar.”

"And, we are maintaining our 12-month forecast at 1.10; we expect that still-limited economic slack and rising recession risks cut against more meaningful Dollar downside.”