CHFTHB Eyes Market VolatilitySWISS FRANC / THAI BAHTFX_IDC:CHFTHBYES_GroupYesterday Recap 24/8/26 Yesterday, CHFTHB closed at 40.73 in the Thai market. The pair continued to trade within a range, while the CHF remained under pressure from the SNB’s relatively accommodative monetary policy stance. However, safe-haven demand helped limit some of the downside pressure. Fundamental Analysis 25/8/26 Key Events Today CHFTHB: No major economic data releases from Switzerland. CHFTHB is expected to continue trading within a range as the SNB maintains a relatively accommodative monetary policy stance, which remains a limiting factor for further upside in the CHF. However, risk sentiment is becoming increasingly important. The VIX is currently at 15.85, up 4.76%, reflecting a slight increase in market concerns. Although this level does not yet indicate a severe Risk-Off environment, a continued rise in the VIX could trigger additional demand for the CHF as a safe-haven currency, helping to limit downside pressure on CHFTHB. Therefore, while CHFTHB remains under pressure from the SNB's monetary policy outlook, its downside may be limited by safe-haven demand if equity markets or other risk assets become more volatile. Overall, CHFTHB is expected to trade within a range, with key focus on the direction of USDCHF, overall risk sentiment, and movements in the VIX. Technical Analysis Bias: Sideways CHFTHB is moving sideways within the 40.70–40.82 range following the previous sharp decline. The price continues to trade below the EMA200, suggesting that the short-term outlook remains in a consolidation phase while the market waits for a clearer directional signal. Resistance: 40.82 This is the key resistance level. A break and sustained move above it could support further recovery. Support: 40.70 This is the key support level of the sideways range. As long as the price remains above this level, CHFTHB is likely to continue trading within the range. Target: 40.82 Focus on range trading, with the upper resistance level as the primary target. Cut Loss: 40.68 A break below 40.70 would invalidate the sideways range and increase the risk of further downside.