Police have spoken to the driver - who is now being assisted by victim support - and several other people in relation to the incident. Four vehicles are under forensic examination and a number of locations of interest are being looked at.
Investigations also include the woman's movements in the hours and days before her death.
A post-mortem has been carried out but the woman's name will not be released until her identity is confirmed and next-of-kin are informed.
Police said the death was currently "unexplained" and called on anyone who saw the woman, who was wearing a blue jacket and pink shoes, to contact them.
State Highway 1 was closed until the early afternoon on Monday following the incident.
"Police would like to thank the public for their co-operation to date with the long road closures and delays that occurred and also for the people who have come forward with sightings," police said.
Anyone who travelled between Invercargill and Bluff after 9pm on Sunday, October 25 and 12.50am on Monday, October 26 are asked to contact Invercargill police on (03) 211-0400.
Information can also be provided anonymously to Crimestoppers on 0800 555 111.