Currently the pair is appreciating, being underpinned by a recent jump from the 50-hour SMA at 93.70. However, to remain in the up-trend, the currency couple has to overcome a cluster of resistances at 93.77/4.08 (four-hour PP, R1, R2, R3; daily R1), a rise above which will open the way towards the daily R2 at 94.31 and the pattern's upper boundary.