SYDNEY, May 15 (Reuters) - The Australian and New Zealand dollars were looking to clear major resistance on Wednesday as a rush of buying against the Japanese yen gave them a lift more broadly, and outweighed softer wage data at home.

Sentiment was also boosted by a Bloomberg report that Beijing was considering having local governments buy up unsold homes, thus providing much-needed support to the embattled property sector.

The combination helped the Aussie to a two-month top at $0.6651, having briefly been quoted as low as $0.6578 overnight. It now faces further resistance around $0.6667.

It also reached its second-highest reading on the yen in more than a decade as investors piled onto carry trades - borrowing yen at low rates to buy higher-yielding alternatives.

It was last up at 104.00 yen, having climbed 4% in just 10 sessions to near a peak from late April at 104.88. A break of that would likely see the Aussie test a high from early 2013 at 105.43.

The kiwi dollar broke its May high to reach $0.6057 , after recovering from a drop to $0.5995 the previous session. A break would open the way to the April top at $0.6084.

All of this momentum helped Aussie bulls shove aside data showing Australian wage growth unexpectedly slowed to an annual 4.1% in the first quarter, lessening the chance of a further hike in interest rates.

Futures now imply around a 10% probability of a rise in the Reserve Bank of Australia's (RBA) 4.35% cash rate, compared to 40% at the start of last week.

Then again, neither do they show much prospect of a rate cut until April next year.

In contrast, investors are wagering heavily the European Central Bank will ease next month, and the Bank of England by August. The Federal Reserve is tipped to cut in September, though much depends on what U.S. inflation data shows later on Wednesday.

Debt markets, meanwhile, were pondering the details of Australia's annual budget that contained energy rebates which will mechanically lower headline inflation over 2024/25, but might also support consumer spending.

Bonds were unfazed by news the government had almost doubled its bond issuance to A$90 billion ($59.79 billion) in 2024/25, still less than what the U.S. Treasury borrows in a week.

Yields on Australian 10-year notes were steady at 4.33%, trading 11 basis points below their U.S. counterparts. ($1 = 1.5053 Australian dollars) (Reporting by Wayne Cole; Editing by Jamie Freed)