EURUSD spikes higher but reverses back lower

Still above the 200 hour MA
The EURUSD spiked higher and in the process reached the 38.2% of the move down from the January 6 high at 1.21658. The high price reached 1.21723 but quickly reversed back lower and currently trades around 1.2150 area.  Lagarde said that FX appreciation is a drag on inflation.  That has