As the press conferences progresses, the USD has seen a break higher (lower for the EURUSD). For the EURUSD it is moved below the swing areas between 1.1271 to 1.1276 and then 1.1260 and 1.12636.
The next stop is down toward another swing low area between 1.12208 and 1.12331. Looking at the chart below, there had been a number of swing level in that area going back to November. There was a break below in November that saw the price move to the lows for 2021 at 1.12853. That too would be a target on more selling.
Close is now the aforementioned swing areas.
The sellers are making a play. It's up to them to push through the next targets now without moving back above broken levels.