EUR/USD holds 1.0820 support as momentum weakens ahead of US PCE data

EUR/USD is consolidating above the key 1.0820 support level, though upward momentum shows signs of fading as traders await crucial US PCE inflation data. The pair has been range-bound between 1.0820-1.0870 during European trading, with the dollar maintaining steadiness despite softer equity markets. Month-end flows are adding complexity to price action, while traders position cautiously ahead of the US Personal Consumption Expenditures (PCE) report, the Federal Reserve's preferred inflation gauge. A higher-than-expected PCE reading could strengthen the dollar and pressure EUR/USD below support, potentially targeting 1.0780. Conversely, softer inflation data might revive euro buying interest toward 1.0900 resistance. Technical indicators suggest waning bullish momentum, with the RSI retreating from overbought territory. The pair's ability to hold above 1.0820 remains crucial for maintaining the near-term uptrend structure.