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XAU/USD: technical analysis on 10.02.2015

Last week was not really successful for the gold. By the end of the week the XAU/USD had dropped to a level of 1228.00 from local highs at about 1285.00, mainly on Friday, against a backdrop of positive data on the US labour market. The dollar was supported by both the number of non-farm payrolls (257 thousand against a forecast of 234 thousand) and the average hourly wage index. The latter is extremely important as the FED considers it when making a decision concerning interest rates. 


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