This research studies the dominant trend reversion factors of exchange rate by Multi-nominal Logistic Regression model. Unexpected U.S. and Euro zone macroeconomic news and technical analysis indices are tested on four exchange rates, EUR/USD, GBP/USD, USD/CAD, and USD/JPY. The results indicate that the unexpected central bank news is by far the most important factors among all the macroeconomic news tested. In respect of the technical indices, only KD and MACD have slight impact on EUR/USD's reversion, while the difference of close and open prices has significant explanatory power on the trend reverse of GBP/USD, USD/CAD, and USD/JPY.