AUD/USD extends 2-week rally to 0.6580 on domestic demand strength

AUD/USD continues its upward trajectory, trading near 0.6580 as the Australian dollar extends a two-week rally against a weakening US dollar. The pair has maintained bullish momentum despite Australia's softer-than-expected GDP print, with strong domestic demand indicators providing underlying support for the currency. The resilience in consumer spending and business investment data has helped offset concerns about headline growth figures, keeping the Reserve Bank of Australia's hawkish stance intact. USD weakness across the board has further amplified AUD gains, as markets reassess Federal Reserve rate expectations. Technical indicators suggest continued bullish momentum, with the pair breaking above key resistance levels. Immediate resistance lies at 0.6600, while support has formed at 0.6550. Traders are positioning for potential continuation toward 0.6620 if current momentum persists and US dollar weakness continues.