The tourists were thrashed by 208 runs in the series opener in Brisbane, with their bowling attack coming in for particular punishment at the Gabba.
Australia made a combined total of 820-8 in their comprehensive win as New Zealand's attack struggled to make inroads.
But Wagner, who has been called into the squad, feels Tim Southee, Trent Boult and Doug Bracewell will respond.
"I think our attack is up there with the best in the world," he told a media conference.
"When Tim, Trent and Dougy and the rest of them all get it right they're pretty good bowlers. If we can be more consistent for long periods of time, we'll definitely show that."
A characteristically bouncy WACA wicket is expected to greet the teams for the Test, which starts on Friday.
Wagner warned his team-mates they would need to adjust their lengths, not fall into the trap of bowling too short.
"Just watching cricket here through the years it has been a thing that overseas teams come here and bowl a bit too short," he said.
"They get carried away with the pace and the bounce sometimes. I think sometimes you have got to bowl a touch fuller length – the top of the stumps. It is a little bit like the Basin [Reserve] back in Wellington.
"I think for us it is just not to get carried away with it and to hit consistent areas and ask good questions for longer periods of time and things will happen."