FXstreet.com (Sydney) - The Kiwi came down to Earth after 3-week highs against the dollar. The pair is now trading at 0.7438 after posting an intraday high of 0.7469. The pair is considered slightly bearish and finds support at 0.7398 while resistance can be found at 0.7454.

The Kiwi's charge against the dollar ran out of steam today as the dollar rebounded against most currencies. This stems from comments by Fed president, Ben Bernanke who maintained that the central bank would monitor the value of the dollar closely. This signalled to the market that any further depreciation of the currency would give rise to inflation.