NZD/USD PRICE ANALYSIS: BEARISH PATTERN UNFOLDING

• NZD/USD is declining in the final C leg of a bearish pattern. 
• The Measured Move is likely to fall to a target in the 0.5800s. 
• The RSI is oversold on the daily chart suggesting a risk of a pullback. 

NZD/USD is falling in a bearish three-wave pattern, known as a Measured Move. This type of pattern consists of three waves, usually labeled ABC, in which wave A and C are commonly of the same length – or related by a Fibonacci ratio