NZDCAD BULLISH SETUP
after an impulsive move for two and a half weeks we have had a correction fore two and a half weeks there is an inverse head and shoulder pattern at the bottom of trend line confirming a bullish setup. also we have fundamentals on our side as added confluence. The BusinessNZ Performance of Manufacturing Index in New Zealand stepped up to 54.3 in October of 2021 from an upwardly revised 51.4 in the previous month. Both New Orders and Production rose to 53.9 and 54, respectively marking the first reading above 50 for the first time since July.
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