Also known as trading the Kiwi, it is the paring of the New Zealand dollar against the US dollar. It shows you how many US dollars you would need to purchase 1 New Zealand dollar.
The first currency in the pair is the base currency, so in this case it would be NZD. USD is the second currency and so it is the quote currency.
For example, if the price for NZD/USD is at 1.53, this means it would cost $1.53USD to purchase $1NZD.