FxWirePro: NZD/USD consolidates in narrow range ahead of RBNZ, bias neutral

• Markets have largely priced in rising odds of a Fed hike in June. Fed speakers have been prepping up the markets for rate hikes this year.
   
• Boston Fed President Eric Rosengren speaking about the U.S. economy overnight said that unemployment has dropped below its natural equilibrium and could overheat the economy.
   
• He said that we could see faster interest-rate hikes if unemployment were to drop below 4 percent.
   
• On the data front, the NFIB (National Federation of Independent Business) survey showed small-business confidence slipped in April.
   
• With respect to the RBNZ markets are expecting a hint of hawkishness on the cards considering improved conditions in the last three months.
   
• Bias for NZD/USD remains neutral to slightly bullish. The pair finds minor trendline support at 0.6830 and major trendline support at 0.6775.
   
• Bullish RSI divergence keeps alive scope for upside. A break above 20-DMA at 0.6945 will see some upside momentum.
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FxWirePro Currency Strength Index: FxWirePro's Hourly NZD Spot Index was at 94.6663 (Bullish), while Hourly USD Spot Index was at -0.306854 (Neutral) at 0200 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.