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The EUR\/USD remains<\/a> barely unchanged on thin trading after the US Bureau of Economic Analysis (BEA) revealed the Federal Reserve\u2019s preferred gauge for inflation, the Core Personal Consumption Expenditure (PCE) price index<\/a> for February was aligned with estimates. That said, the EUR\/USD trades at 1.0788, posting minuscule gains of 0.02%<\/p>\n The BEA revealed that Core PCE<\/a> came at 0.3% MoM and at 2.8% YoY, with both figures aligned with the market consensus. Headline PCE figures rose by 0.3% MoM lower than expected and January\u2019s data. In the 12 months to February, PCE came at 2.5%, as foreseen, but a tenth higher than the prior month\u2019s data.<\/p>\n Other data showed that Wholesale Inventories Advanced for February came at 0.5% MoM up from -0.2% in the previous month.<\/p>\n Thin liquidity conditions witnessed the EUR\/USD push below 1.0780 before breaking above 1.0790. Buyers are eyeing a clear break above 1.0800, though they will face some intraday resistance, as depicted by the hourly chart<\/a>, with the 50-Simple Moving Average (SMA) standing at 1.0800.<\/p>\n In addition, traders will watch San Francisco\u2019s Fed President Mary Daly’s speech at 15:20 GMT, followed by Fed Chair Jerome Powell’s speech at 15:30 GMT.<\/p>\n According to BBH analysts, Fed Chair Jerome Powell’s speech will be important. They noted, \u201cOther Fed speakers have tilted hawkish after last week\u2019s FOMC meeting, and markets will be watching to see if Powell follows suit or maintains the dovish tone from his press conference. With Powell, it\u2019s always a coin toss but as we\u2019ve said countless times before, the data will ultimately decide the timing of the first cut. <\/strong>As things stand, odds of a cut June 12 have fallen to 66% after rising to 85% post-FOMC.\u201d<\/p>\n During the European session, the pair printed a low of 1.0767. However, the EUR\/USD<\/a> climbed above 1.0790 following the data release, with traders eyeing 1.0800. A decisive break will expose the March 28 high of 1.0827, followed by the 50-day moving average (DMA) at 1.0834, ahead of 1.0835, the 200-DMA. Once those levels are cleared, up next would be the 100-DMA at 1.0876. On the other hand, further losses are eyed below 1.0750, which would expose the February 14 low of 1.0694.<\/p>\nEUR\/USD posts minimal movement after US inflation data<\/h2>\n
EUR\/USD Price Analysis: Technical outlook<\/h2>\n