Australia dlr aiming to end week with gains, defying Fed fears

* Aussie bears find 90 cents a tough support

* Kiwi set to end week adrift of 11-month high

By Gyles Beckford and Cecile Lefort

SYDNEY/WELLINGTON, March 21 (Reuters) - The Australian and New Zealand dollars showed some resilience on Friday as major chart support offset a broadly stronger U.S. dollar after the Federal Reserve surprised markets by broaching the possibility of raising interest rates early next year.

The Aussie AUD=D4 edged up to $0.9062, to be 0.3 percent higher for the week so far. That was down from a $0.9138 peak but up from the $0.8995 low touched after Fed Chair Janet Yellen said the central bank might end its bond-buying program this fall and could start to raise rates around six months later.

Aussie sellers were again unable to sustain a break below 90 cents, a level tested three times this week. Dealers said the bounce is largely due to the unwinding of short positions.

"The speculative community has taken profits immediately after the Fed," said Dino Spinelli, head of FX sales at UBS.

"The reason is if you've tried to go short the Aussie over the last three months and you hang on to the trade for more than two or three days, you've ended up losing money. So they all have been very quick to lock the money in."

Spinelli forecast the Aussie would be range-bound until the U.S. payroll data in early April. The report, he said, could be the catalyst to trigger the next stage of the U.S. dollar rally and could send the Aussie to around $0.8850.

The New Zealand dollar NZD=D4 was little changed at around $0.8530, well off the 11-month high of $0.8641 hit on Tuesday.

"With the New Zealand dollar failing to fall through the $0.8500 level overnight, we favour selling towards $0.8550," ASB Bank economist Christina Leung said in a note.

Kiwi near-term support is seen around $0.8500 and below that $0.8480, with resistance at $0.8568 before $0.8600.

Data confirmed the rosy state of New Zealand's economy, with job advertisements rising, migration gains at a near-11 year high, and consumer confidence easing a shade but remaining strongly elevated. News Search ID:nW9N0M7006 News Search ID:nW9N0LN00N

"With the economy now firmly into an economic expansion and interest rates on the ascent, the challenge is to settle into a glide-path," said ANZ chief economist Cameron Bagrie.

The flow of data is set to cement expectations of a steady rise in interest rates through this year and into 2015 to keep inflation pressures in check.

New Zealand government bonds 0#NZTSY= were a touch firmer, pushing yields a tick lower along the curve.

Australian government bond futures eased with the three-year bond contract YTTc1 down 2 ticks at 96.940. The 10-year contract was also off 2 ticks to 95.840, near a two-month trough of 95.825.

(Editing by Eric Meijer)

((Cecile.Lefort@thomsonreuters.com)(+61 2 9373-1234)(Reuters Messaging: cecile.lefort.thomsonreuters@reuters.net))

Keywords: MARKETS AUSTRALIA/FOREX