The Central Americans fell to a 2-1 defeat to Ecuador on Friday, with Enner Valencia scoring twice after Carlo Costly's opener, to leave los Catrachos in bottom spot in Group E after their opening 3-0 loss to France.
To qualify for the second round, Honduras will need to beat the Swiss by a heavy margin and also rely on Ecuador suffering a big loss to les Bleus but Suarez insists that, however unlikely this appears, he has not given up hope.
"It's worth Honduras continuing to fight," the 54-year-old told a press conference.
"What we have not lost is the will to fight."
Suarez added that, despite the loss to Ecuador, he believes his side can take confidence from certain aspects of their performance.
"The good things we did give us confidence," he continued.
"But the bad things are what journalists remember. We can only do what we can. Hopefully the players have the awareness of what they have to do,"
Honduras face Switzerland on Wednesday in their final Group E game.