Safe-Haven Demand in FocusSWISS FRANC / THAI BAHTFX_IDC:CHFTHBYES_GroupFriday Recap On Friday, CHFTHB closed at 40.88 in the Thai market. The CHF continued to receive support from safe-haven demand, but the price declined from its highs. Therefore, the short-term direction will mainly depend on USDCHF and overall risk sentiment. Fundamental — 24/8/26 Today, there are no major economic data releases from Switzerland, so the CHF is likely to move mainly in line with the USD and global market sentiment. This morning, the Thai stock market opened lower due to relatively heavy domestic selling pressure, which could put downward pressure on the Thai baht and provide additional support for CHFTHB, particularly if selling pressure in the equity market continues. Meanwhile, a risk-on environment and capital flows into risk assets could reduce demand for the CHF and limit its recovery. However, if the market shifts toward risk-off, the CHF could receive support as a safe-haven currency. During the evening session, stronger-than-expected U.S. economic data that supports the USD could put pressure on the CHF. Conversely, weaker-than-expected U.S. data could create room for the CHF to recover. Technical Analysis Bias: Sideway Up / Bullish CHFTHB declined sharply before forming a base around 40.72, followed by a rebound. However, the price remains below the key moving averages, suggesting that the current move is still a range-bound rebound rather than a full bullish reversal. Resistance: 40.85 Key resistance level. A break above this level could open up further upside potential. Support: 40.72 Key support level. Holding above this level would maintain the Sideway Up structure. Target: 40.85 Cut Loss: 40.67 If the price breaks below 40.72 and falls below 40.67, the Sideway Up structure would be invalidated, with potential for a retest of the previous low.