New York coffee may fall into $1.02-$1.0420 range

• Coffee failed twice to break this support, but may succeed this time.
• Resistance is at $1.0770, a break above which could lead to a gain to $1.0975.

SINGAPORE: New York July coffee may break a support at $1.0550 per lb and fall into a range of $1.02-$1.0420.

The support is provided by the 114.6pc projection level on a downtrend from $1.2260. Coffee failed twice to break this support, but may succeed this time.

Resistance is at $1.0770, a break above which could lead to a gain to $1.0975.