EURUSD Holding Above A Key Support

The euro briefly fell back below parity against a robust dollar on Monday and was languishing at five-week lows, weighed down by concern that a three-day halt to European gas supplies later this month will exacerbate an energy crisis

The dollar index, hit new five-week highs as Federal Reserve officials reiterated an aggressive monetary tightening stance ahead of the Fed's Jackson Hole symposium this week.

The EURUSD seem to hold above 0.99521 support level on the daily chart, a violation for the mentioned support may open the door for a further losses towards 0.98614 support level.

The main view still bearish as long as we're within the downward sloping channel (we can expect lower lows) - but an upward correction is expected on the short term.