If you enable Snap to Objects (Window menu) you also get visual guides to indicate when objects are aligned. In the case of the text over the photo two red dots appear, one for the text and one for the photo. When the dots are one atop the other the text is centered.
The circle below the photo will show a vertical line to indicate left, center, or right side alignment with the center of the photo or any other side of the photo as well.
This would be a great opportunity for one of Egg's videos.
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