Aussie & kiwi at 10-wk highs vs euro on Cyprus jitters

SYDNEY/WELLINGTON, March 20 (Reuters) - The Australian and New Zealand dollars climbed to 10-week highs against the euro on Wednesday after a bailout deal for Cyprus was thrown into disarray.

* Euro slides as far A$1.2400 and NZ$1.5577 , the weakest since Jan 10. The euro has shed more than 7 cents against both Aussie and kiwi since early February.

* Last at A$1.2414 with key support at A$1.2395, the 50 pct retracement of the 2012 low to 2013 peak, ahead of the 2013 trough at A$1.2350.

* Euro at NZ$1.5623 with support at NZ$1.5577, ahead of NZ$1.5490-NZ$1.5500, the 61.8 pct of the 2013 low and the 61.8 pct retracement of the 2012 low to 2013 high move.

* Cyprus's parliament overwhelmingly rejected a proposed tax on bank deposits as a condition for bailout aid, pushing the island a step closer to the brink of financial meltdown.

* Still, traders say markets have refused to panic so far on hopes the euro zone will hash out a last minute deal to keep Cyprus in the common currency.

* Aussie steady at $1.0368 , off slightly from $1.0387 on Tuesday. Support seen at $1.0322, Monday's low, ahead of $1.0300, the 38.2 pct of the $1.0116/$1.0415 move. Resistance seen at $1.0415.

* The New Zealand dollar a touch lower at $0.8223, from $0.8237 early. Support found at $0.8220, ahead of the 200-DMA around $0.8190. Resistance around $0.8280, the high set three times last week.

* Lower Asian bourses and falling commodity prices weigh on the Antipodeans.

* Cyprus uncertainty boosts the safe-heaven yen with the Aussie dollar slipping to 98.31 yen and the kiwi to 78.10 yen . But both Aussie and kiwi remain within reach of recent 4-1/2-year peaks.

* The kiwi briefly dipped after data showed New Zealand's annual current account deficit rose to a 3-1/2-year high in the December quarter because of lower dairy and oil exports and a fall in tourist spending.

* Australian debt futures jump in line with Treasuries. The three-year bond contract up 0.080 points to 97.050, while the 10-year contract gains 0.070 points to 96.570. They touched ten-month lows last week.

* New Zealand government bond prices firmer, with yields as much as 6 basis points lower.

* Later Wednesday there is a Federal Reserve policy announcement with updated economic forecasts, minutes from the Bank of England and the British government budget.

(Australia and New Zealand bureaux)

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Keywords: MARKETS AUSTRALIA NEWZEALAND/FOREX