Aussie and New Zealand $ breathe easier

The Australian and New Zealand dollars staged a relief rally on Friday as markets took heart after China's economic data was not as bad as feared, helping ease worries of a hard landing for the world's second biggest economy. The Aussie rose as high as $1.0175, from a session low of $1.0123, after data showed China grew 7.6 percent in the second quarter, from a year earlier.
In late trade, the Aussie bought $1.0170. Immediate resistance is seen around $1.0186, the 38.2 pct retracement of its July 5-12 fall, while initial support comes in at the overnight low of $1.0100. The New Zealand dollar mirrored the Aussie, managing a modest lift to a session high of $0.7925 from $0.7890. It was last at $0.7922.