Australia have won their fourth successive match at the Cricket World Cup courtesy of edging out New Zealand by five runs in Dharamsala.

Having lost their opening two fixtures, the Baggy Greens appeared to be underdogs to reach the last four, but they have been at their big-hitting best since the heavy defeat to South Africa.

After reaching 388 all out from 49.2 overs, Australia held their nerve to prevail by a small margin at the end when New Zealand, at one stage, appeared on course to claim a potentially-pivotal triumph.

Although New Zealand won the toss and elected to field, they were soon left ruing their decision, with David Warner and Travis Head putting on an astonishing 175 for the opening wicket off 19.1 overs.

Warner would depart for 81 from 65 before Head went for 109 off just 67, with Australia already at 200-2 off 23.2 overs, and that platform allowed the rest of the lineup to swing, and swing big.

Glenn Maxwell made 41 from 24, Josh Inglis contributed 38 from 28 and Pat Cummins recorded a 14-ball 37 that featured four sixes, with Glenn Phillips (3-37) the pick of the New Zealand bowlers.

In reply, New Zealand could not afford a slow start and falling to 72-2 from 9.4 overs helped put Australia in control at that point.

Rachin Ravindra (116) and Daryl Mitchell (54) swung the match back in the Black Caps' favour, however, and when they required 167 from 18.4 overs with six wickets remaining, New Zealand would have backed themselves to chase down Australia's target.

Instead, their rivals clawed their way back into the contest, defying James Neesham's 58 from 39 as Cummins (2-66) and Adam Zampa (3-74) took important wickets.

While New Zealand were left requiring six runs from the final two deliveries, Australia took their ninth wicket and prevented Lockie Ferguson from scoring with the final ball of the match, an action that could prove to be the difference between qualification and elimination.

Australia now sit locked on eight points with New Zealand - the teams occupying fourth and third respectively - and with a four-point gap over the chasing pack, it would take some turnaround for these nations, South Africa and India not to make up the final four.