"If it was a New Zealand group one, I'd say bounce her out and lead, but this is a totally different race.
"Whether she has still got the speed to lead, we'll find out."
Marsh will be attempting to become the first New Zealand trainer to win the world's richest 2-year-old race and he has Australia's best jockey in his corner in Craig Williams.
Williams has been a vocal supporter of Ruud Awakening after choosing the Kiwi over Black Opal winner Criterion.
"If I didn't think Ruud Awakening could beat Overreach I wouldn't be on her," Williams said this week. "I would have ridden Criterion instead."
Williams rode the youngster to victory in New Zealand's richest race, the Karaka Million. Since then the filly has enjoyed a group one success at her only run.
"I thought pretty much straight away that she was good enough for the Slipper," Williams said.
Ruud Awakening had been well supported from $18 to $12 before easing to $13, after drawing the outside alley in the 16-horse field.
Both 1987 winner Marauding and 1989 victor Courtza were bred across the Ditch, but Australian-trained.