Rain in the interval between innings meant Australia faced a reduced victory target of 235 from 33 overs, and they limped to 53 for three in nine overs before the heavens opened for a final time and the game was abandoned.
After the first rain delay, New Zealand came out firing with Australian global Luke Ronchi particularly harsh on Pat Cummins' bowling, smashing two fours and a six from an over.
Kane Williamson's assured knock of exactly 100, after Luke Ronchi's 65 off 43 balls against the country he once represented, helped New Zealand post a competitive total of 291 all out in 45 overs.
Josh Hazlewood was the chief beneficiary as several batsmen carelessly holed out, with the fast bowler returning ODI best figures of 6/52.
Australia and New Zealand have earned a point each after the washout.
Australia were in trouble at 53/3 after nine overs before rain came calling and covers were brought on.
While batting first, Bangladesh scored 305 runs for 5 in 50 overs with Tamim Iqbal's 128 runs innings, recording his second Century against England and overall ninth.
Warriors' Steve Kerr returns to the bench to coach Game 2
Like the turnover issues, the Cavaliers can realistically expect their outside shooting to improve in Game 2 and beyond. And we forced them to 20 turnovers and they still beat us pretty good.
"I was probably going to bowl first anyway", said Smith, celebrating his 28th birthday on Friday, at the toss.
Hazlewood dismissed tailenders Adam Milne and Mitchell Santner as they went for big hits.
It's expected to be a nail-biting match as both teams are considered tough contenders with some exciting and multi-talented players. And how do they balance that attack, with so many allrounders and frontline bowling options? The 24-year-old made his worldwide debut in 2011, yet the fact he's played just three Tests and 28 one-day internationals since then is testament to how much time Cummins has spent on the treatment table.
Here is a look at how this Australia vs New Zealand match could go.
Only the top two sides from each of the two groups of four qualify for the semi-finals. "We bowled both sides of the wicket and it was pretty ordinary".
The Black Caps raced to 134 off just 20 overs, before John Hastings secured the prized wicket of Ronchi, and the Aussies started to pull back the Kiwi run rate.
Kane Williamson of New Zealand bats during the ICC Champions Trophy match between Australia and New Zealand at Edgbaston.
Starc (0/52) went wicketless in his return to worldwide cricket post the injury he suffered in India earlier this year.
David Warner of Australia heads back to the pavillion after being dismissed by Trent Boult for 18 runs.