As it was mentioned in previous analysis of this currency pair dated 03.06.2013, according to the formed signs in the price chart, there was a potential for ascending of price to the specified resistance levels which finally happened and it touched those specified targets. Because of sell pressure and strong downtrend, ascending of price was not stable and sellers could achieve the lowest price of 0.78191. Currently price in long term time frames such as monthly and weekly is under 5-day moving average and warns more descending in long term interval.
As it is obvious in the picture below, right now price during the downtrend has reached to the ascending trend line (made of 3 bottom prices) and if this supportive line breaks, price will have the potential of reaching to the important supportive level of 0.77300. According to the formed price movements in daily time frame, there is a butterfly harmonic pattern between the top price of 0.86738 and the recent descending that by completing the D point of this pattern (formation of an ascending candlestick pattern or a bullish candle); there is a warning about stopping of descending of the price. There is no clear sign for ascending of the price and the least sign for price reformation and increasing of the price is formation of a bottom price in 4H time frame.