The support is provided by the 138.2pc projection level of a downward wave c from $1.0290.
Coffee failed twice to break this support.
The failures suggest the development of a double-bottom around this level.
A break below $0.9225 could cause a fall towards $0.9045.On the daily chart, two hammers formed around the same level.
They strongly indicate a reversal of the downtrend from the Oct. 3 high of $1.0290.