Peach makes marmalade out of Zelda
Intended yet dreadful pun is indetended. And dreadful
Peach hands down wins this match up. Din's Fire sucks because Peach can Nair through it. So in the air, she doesn't have to worry about relying on her crappy airdodge and on the ground, she doesn't have to worry about shielding it because she can simply ground Float Nair. There is absolutely nothing stopping Peach from sitting at the other side of the stage with a Turnip in hand, waiting to time Zelda out and Nairing any Din's Fire attempts if Peach is really willing to play that gay (which nowadays I am lol)
Her reflector is rubbish vs Turnips because when they're sent back, they're still falling down so they'll most likely miss Peach. Unless Peach has glide tossed it point blank at Zelda, its a free aerial for Peach
Zelda doesn't have the tools to get through Peach's defensive wall. Minus Up Smash, she has very poor OoS options. Her ground game isn't versitile or fluid enough to take on Peach's air game and her air game gets flat out beat by Peach's ground game. Turnips make things really difficult for Zelda to get in and fight Peach up close. Even then, Peach outspeeds her up close. I haven't even mentioned recovery...
Watch out for her smashes. Get ready to punish any F Smashes and Up Smashes on block. WAIT UNTIL THE SMASH HAS FULLY FINISHED! Or you'll get hit when you drop your shield lol
I'll go more in depth if need be but I'm sure I've posted stuff elsewhere before. This isn't a good match up for Zelda