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Trade of the South Pacific

Beck Rocchi | Getty Images

Tired of deciphering the ups and downs of the euro? Take a trip to the South Pacific and try this trade.

The Royal Bank of Australia is meeting on June 6, and Amelia Bourdeau, director of foreign exchange at Westpac Institutional Bank, expects some hawkish comments from officials there. She's also expecting a strong Australian employment report later in the week.

"Those two events combined should support the Aussie dollar," she told CNBC.

Over in New Zealand, meanwhile, the kiwi has been hitting new highs.

So Bourdeau recommends buying the Aussie dollar against its New Zealand counterpart at current levels, around 1.3165, with a stop at 1.30 and a move to 1.34.

You can watch the discussion in the videoclip .

Tune In: CNBC's "Money in Motion Currency Trading" airs on Fridays at 5:30pm.

"Money in Motion Currency Trading" repeats on Saturdays at 7pm.

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