The NZDUSD enters a corrective phase to the upside

The NZDUSD currency pair on the Daily Chart has been in an uptrend since 01 October 2019 when it registered the low price at 0.62039. Subsequently, the price displayed a series of higher tops and higher bottoms. On 04 November 2019, the NZDUSD currency pair recorded the high price of 0.64646. When applying Oscillator Analysis to the price chart, one can see that price is trading above the SMA 60 period Moving Average line, a fact which confirms the Kiwi's upward direction. Furthermore, the MACD (Moving Average/Convergence Divergence) Oscillator is recording values above the zero line which hints to the bullish bias of the financial instrument. Additionally, the RSI (Relative Strength Index) Oscillator registers values above the fifty line which indicates positive sentiment. All three technical indicators are in agreement with regards to the upward bias of the financial instrument. Three price targets may be calculated upon applying the Fibonacci tool to the price chart. The first price target is estimated at 0.64243 (161.8%). The second price target is seen at 0.65377 (261.8%). The third price target is projected at 0.67212 (423.6%). The first target was reached successfully. The Kiwi is currently trading above the uptrend line. Of course, supply and demand as well as the crowd sentiment will determine the course of Kiwi.