We have studied the magnetization reversal process in continuous: ͓Co/ CoO͔ 20 and separated: ͓Co/ CoO / Au͔ 20 exchange-biased polycrystalline multilayers ͑MLs͒. For continuous ML, reversal proceeds sequentially starting with the bottom ͑top͒ Co layer for increasing ͑decreasing͒ field. Each Co layer remagnetizes symmetrically for both field branches in a nonuniform mode similarly as we have observed earlier for ͓IrMn/ CoFe͔ 3/10 MLs ͓Phys. Rev. B. 70, 224410 ͑2004͔͒. By polarized neutron reflectivity, we observe increasing exchange bias field strengths down the stack. However, usual asymmetric reversal is observed for the separated ML. We explain the different magnetization behavior within a simple and general model. The increased anisotropy energy for continuous ML is responsible for the nonuniform symmetric reversal as the angular dependencies for reversal are guided by the relative strengths of exchange, anisotropy, and Zeeman energies. Asymmetric hysteresis loops due to a different magnetization reversal process in different branches of the hysteresis loop are common 2-6 in exchange biased systems. Neutron scattering under grazing incidence with polarization analysis has been proven decisive for identification of the reversal mechanism. Two mechanisms can be distinguished: uniform magnetization reversal by magnetization rotation 3-6 and nonuniform magnetization reversal by domain nucleation and growth. Magnetization rotation is identified by a significant increase of the specular reflectivities in the spin-flip ͑SF͒ channels ͑R +− and R −+ ͒, which correspond to in-plane magnetization components perpendicular to the guiding field H a applied collinear to H FC . Reversal by domain nucleation and propagation ͑nonuniform magnetization reversal͒ does not provide enhanced SF intensities because the magnetization is always collinear to H a . Reversal mechanisms are observed for the Co/ CoO bilayer systems, 5,6 where the domain wall motion occurs for the decreasing ͑positive to negative͒ and magnetization rotation for the increasing ͑negative to positive͒ field sweeping direction of H a for the hysteresis loop with respect to negative direction of H FC . This behavior is just opposite to that reported in Ref. 4. Theoretically the interpretation of the magnetization reversal was discussed in Ref. 7 where it was shown that depending on , the angle between H FC and the AF anisotropy axis, the reversal mode is either by coherent rotation for both loop branches or asymmetric with a nonuniform reversal for the decreasing branch.Very recently, Paul et al. 8 have shown symmetric and sequential reversal for polycrystalline ͓Ir 20 Mn 80 ͑6.0 nm͒ /Co 80 Fe 20 ͑3.0 nm͔͒ 10 multilayers. Here sequential refers to a process, where different layers reverse their magnetization at different field strengths one after another. This reversal mode-symmetric, and nonuniformcorresponds to the situation = 0, considered unlikely to occur in experiments.7 Interestingly, however, the samples were multilayers ͑MLs͒ unlike the bilayer specimen...