FXstreet.com (Sydney) - The Kiwi gained ground on recent losses against the dollar and is now trading at 0.7287. The Kiwi gained on the USD after opening at 0.7256 hitting an intraday high of 0.7292. The NZD/USD is considered slightly bullish and finds support at 0.7263 and resistance at 0.7316.

In the US, GDP grew at 2.8% down from the 3.5% originally forecast. This resulted in the markets falling during early trade. However, the market recovered some losses after the Fed revised upwards its forecast for growth in 2010 for the US economy from 2.5% to 3.5%.