Beschreibung
⋅ 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
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