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Gold extends recovery, approaches $1,200

FXStreet (Córdoba) - Spot gold managed to erased losses and climbed to $1,198.80/oz, reaching a fresh daily high. The value of the ounce is recovering sharply after falling to fresh 2014 lows during the Asian session at $1,182.

After bottoming XAU/USD rebounded and accelerated to the upside, after rising above $1,190. Price remains near the highs ahead of the American session, but on a wider perspective remain under pressure.

Gold testing 2013 lows

Despite making a bullish correction, gold remains weak from a technical perspective. The price continues to test 2013 lows, that lie around the $1,180 area. A break below, would send gold to levels not seen since 2010.

EUR/USD extends recovery from 1.2500

EUR/USD has extended its recovery from the 1.2500 area to fresh daily highs beyond 1.2560 as US dollar retreats across the board following Friday’s NFP induced rally.
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