US cocoa continued higher but remained within a recent range in early trade on Friday, buoyed by firm sterling, while arabica coffee corrected lower after Thursday's fund-induced rally, traders said. Arabica coffee for March delivery down 1.00 cent at $1.1820 per lb by 9:18 am EST (1418 GMT). Narrow trading range from $1.1775 to $1.1910. March volume 1,731 lots.
Support for March pegged around $1.1635, then $1.1235, with resistance at $1.2210, then $1.2385. The rest ranged from 0.25 to 0.45 cent lower. Benchmark May cocoa up $24 at $2,794 per tonne by 9:19 am, with volume at 2,765 lots. Session range from $2,769 to $2,821. The rest from $19 to $26 stronger.