SYDNEY: The Australian and New Zealand dollars were looking to lock into a new higher trading range on Friday after clearing major chart barriers this week, while bonds celebrated revived hopes for rate cuts at home and abroad.

However, sentiment was tested by a mixed batch of Chinese economic data released on Friday, as April industrial output beat expectations, only for retail sales to miss.

Figures on property investment and house prices were also bearish, underlining the urgent need for more fiscal support from Beijing.

That saw the Aussie edge back a little to $0.6670, though it was still up 1.0% for the week and above resistance at $0.6650. The next hurdles stand at $0.6715 and $0.6735, with support at $0.6630.