NZDUSD ticks higher after better than expected PMI data

Continues correction toward 100 hour MA

The NZ Business manufacturing PMI came in at 58.9 which higher than the 52.3 level from last month.

The NZDUSD is ticking a little higher and tests the highs from the NY session at 0.69705. The high just reached the same level.

On a continuation higher, the 38.2% of the move down from the April 27 comes in at 0.69757. The 100 hour moving average (blue line in the chart above) currently comes in at 0.69804. A movable each would open up the door for further upside potential with the 200 hour moving average near the 0.7000 level (see green line in the chart above).