Yesterday Recap

CHFTHB closed at 40.84 THB per Swiss franc, trading within a narrow range as investors remained on the sidelines ahead of the release of the US Nonfarm Payrolls (NFP) report. Meanwhile, demand for safe-haven assets remained relatively stable, keeping the Swiss franc in a cautious trading pattern.

Fundamental Analysis

CHFTHB is expected to trade within a sideways range with a bullish bias in the short term. Investors are monitoring Switzerland's SECO Consumer Climate Index and the Swiss National Bank (SNB) Foreign Exchange Reserves to assess the country's economic outlook and financial stability.

However, the market's primary focus remains on the release of the US Nonfarm Payrolls (NFP), Unemployment Rate, and Average Hourly Earnings, which are expected to be the key drivers of currency markets today.

If US labor market data comes in stronger than expected, it could strengthen the US dollar and put pressure on the Swiss franc, limiting CHFTHB's upside potential. Conversely, weaker-than-expected US employment data could weigh on the US dollar and support the Swiss franc through increased safe-haven demand, allowing CHFTHB to move higher.

Technical Analysis

CHFTHB continues to trade within a narrow consolidation range between 40.74–40.80 after rebounding from its recent low. Although the pair remains below the EMA, suggesting that the broader trend is still bearish, short-term buying momentum has started to emerge.

A decisive break above the 40.80 resistance level could pave the way for further gains toward the next resistance at 40.84. On the downside, a break below the 40.74 support level could trigger renewed selling pressure and expose the 40.70 support area.

Nevertheless, today's direction will largely depend on the outcome of the US Nonfarm Payrolls (NFP) report, which is expected to increase volatility across the currency market.

Bias: Sideway
Resistance: 40.80 – 40.84
Support: 40.74 – 40.70
Target: 40.81 – 40.84
Cut Loss: Below 40.74