The Black Sticks Women have been pegged back from two goals up to tie 2-2 with Argentina in the fourth of six Tests in Buenos Aires.
Goals to Jordan Grant and Olivia Merry gave the Kiwis a solid buffer against their South American rivals, but they couldn't see the lead out to the end.
Argentina reduced the arrears just before half-time through Eugenia Trinchinetti, before Maria Grantto levelled the scores with two minutes remaining.
Down 2-1 in the series, the Black Sticks will now need to win both of their final games to take the title home.
Assistant coach Sean Dancer said the side had improved considerably on their 3-0, third-Test defeat on Friday.
They had deserved victory for their first-half performance.
"We played with a lot of confidence and flow, we held onto the ball and were able to create and score," Dancer said.
"It's really disappointing not to get the final result."
The fifth Test will take place on Monday morning (NZDT), before the teams square off for the final time on Tuesday.