NZDUSD made a strong move to the upside over the last sessions.
Have a look at the price from Elliott wave perspective
We had the first motive Wave which consisted of 5 waves.
Wave 2 of the bigger picture made a correction to the 50% Fibonacci level
since the middle of November we were in a bigger wave 3, price marking constantly new highs without major corrections
Now price is strongly overbought which is a typical sign for Wave 3.
We should now see a correction (Wave 4) with minimum 150 pips before we are targeting new highs
This last high should come with RSI divergence and could then be labelled wave 5
This whole move would the make a bullish motive wave, the first impulse to the upside. 2020 will be a strong year for AUD and NZD and the USD is going to devaluate