FxWirePro: EUR/PLN bounces higher from trendline support, good to buy dips

 

• EUR/PLN edges higher, ignores bullish Polish manufacturing PMI data
  
  
• EUR/PLN was better bid despite bullish Polish data, trades at 4.2490, away from 4.2417 low hit earlier in the day
  
  
• Poland Purchasing Manager Index increased to 52.2 in October from previous 50.9, labour creation extended for a 27th month
  
  
• Risk-off trades following the release of the Caixin Chinese PMI report favoured safe-haven currencies such as the euro
  
  
• EUR/PLN has strong trendline support at 4.2420, pair has taken support and edged higher, weakness only below  4.2420
  
  
• Immediate resistance on the upside is located at 4.2668 (Daily Tenkan) ahead of 4.2804 (Oct 30 highs)
  
  

Recommendation: Good to buy dips around 2.2450, SL: 2.2400, TP: 2.2660