19 May '11, 2am

Aussie, kiwi dlrs firmer on commodities; NZ awaits budget

WELLINGTON/SYDNEY, May 19 (Reuters) - The Australian and New Zealand dollars advanced against the U.S. currency on Thursday, having risen on the back of a rally in commodities and ahead of the NZ budget. * Aussie last at $1.0655 versus $1.0625 late in New York, after reaching a session high of $1.0662. The slide from a 29-year peak of $1.1012 on May 2 looks to have found a bottom at $1.0505 for now. * Aussie settling into a comfortable $1.0500-$1.0700/20 range and only a clear break on either side will give the necessary momentum for a directional move, a trader says. * Resistance seen at $1.0699, a level representing the 38.2 pct retracement of the May 2 to May 17 slide. * The kiwi dollar at $0.7900, having touched $0.7914 in offshore trade, distancing from Monday's five-week low of $0.7755 on Monday. * Support seen at $0.7835, with resistance at $0.7914. * Market focus o...

Full article: http://sg.news.yahoo.com/aussie-kiwi-dlrs-firmer-commodit...

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sg.news.yahoo.com 19 May '11, 2am

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