Ahead 15-14 at the end of the first quarter, and 28-27 at half-time, the Silver Ferns slipped briefly in the third quarter to allow the Australians a 42-40 lead going into the final 15min.
And although the New Zealanders showed huge commitment and composure under pressure to battle back in the closing minutes of the final quarter, they ended the match one turnover short.
None personified the intensity better than goal keep Casey Williams, who was floored barely 5min into the game by a stray Kate Beveridge elbow.
After taking the full 2min to repair the damage - and wipe the blood from the floor - Williams threw herself back into the fray and never gave rookie shooter Beveridge a centimetre of space she was not forced to.
Both coaches settled for experimental line-ups, in the first time the two sides have met since Australia won the world title from New Zealand in Auckland last November.
And although the Australians had only 115 caps to the New Zealanders' 328, the customary Australian athleticism and teamwork was there right from the first whistle.
For Australia, the wily Norma Plummer had two new caps - Beveridge and midcourter Kim Green, both of whom acquitted themselves well.
Captain Natalie von Bertouch, marshalling play at centre, was in fine form, while Julie Prendergast at wing defence proved an endless nuisance for the New Zealanders.
Plummer opted to stand down the experienced Catherine Cox, still struggling with a niggling ankle injury, but Beveridge stepped up in style.
And although the newly named Diamonds played a more considered, measured approach in working the ball down court, the speed and athleticism of their shooters was at the same impressive level as always.
For New Zealand, centre Julie Seymour took on the captain's duties for the first time since the 2002 Manchester Commonwealth Games, and led from the front with her customary hard-running, hard-passing game.
Laura Langman moved out to wing attack, adding another string to her bow after she started her Silver Ferns career at wing defence before moving last year to centre.
Irene van Dyk, out at goal attack for the first time for New Zealand, worked well in tandem with an increasingly assured Maria Tutaia at goal shoot and the pair ended with better shooting statistics than the Australians in sinking 51 from 58.
But while the percentage rates for the Australian shooters were not so impressive, the amount of extra possession they got proved the difference as Beveridge and Sue Pratley netted 53 from 62.
Plummer was delighted to have taken the lead in the series with a "second line" side.
"Considering we had two kids [Beveridge and Green] who made their debut tonight, lost three shooters within two weeks, and really run a second line compared to what we can run, I'm absolutely delighted.
"They played it right down to the letter against tough opposition. The Ferns gave a good performance. I'm just delighted with my kids tonight.
"Beveridge is underestimated I think - people didn't think I'd put her out there. She's got a lot of talent and grown in confidence. She had an excellent game."
New Zealand coach Ruth Aitken rued her side's inability to finish off the turnovers it got.
Aitken said for the second test at Auckland on Saturday, the team would have to look at consistency and valuing possession.
"When we got that hard-fought turnover, we didn't quite get it through the goal at crucial times.
"It's about appreciating and valuing the possession. We've got very good shooters and you just have to get it down to them."
