EUR/COP Sinks Below Key Moving Averages Amid Policy Uncertainty

EUR/COP is trading at COL$3,636 after a daily decline of 1.01%, below its key moving averages.

Bundesbank President Joachim Nagel criticized the US for selling euros to support the yen without prior consultation with European authorities, sparking policy uncertainty and weighing on euro sentiment.

The Eurosystem's net foreign currency holdings increased by EUR 0.5 billion, while base money contracted by EUR 0.2 billion, indicating modest liquidity changes in the background.

Technical analysis suggests that EUR/COP is likely to remain range-bound within the COL$3,610 to COL$3,661 range, with a 42% probability for an upward move and higher odds for a further decline.