The Trans-Tasman clash is set to be played in Sydney and will be an important lead in to the Olympics kicking off the following month in China.

"It's 90% certain to be played," said the NZ source.

The two countries last played at U/23 level in 2004 in two keenly contested Athens Olympics qualifiers.

In the two January games, there was a 1-1 draw in Auckland and a 2-0 win to the Aussies at Parramatta stadium, Sydney.

Current Phoenix striker Shane Smeltz scored for the Kiwis on home soil.

Back then the Olyroos featured the likes of Nick Carle, Jade North and Jon McKain, now playing for Phoenix.

The Kiwi 23s had Tim Brown, Steven Old and Leo Bertos in their ranks.

New Zealand has been drawn to play the host nation, Brazil and Belgium at the Olympics. For Australia, an equally tough task sees them up against Serbia, Argentina and Ivory Coast.

In other New Zealand news, former All White striker Wynton Rufer has been named a Companion of the New Zealand Order of Merit (CNZM) in the Queen's Birthday Honours.