A penalty to the USA with just eleven minutes remaining was all that separated the world champions from the spirited Matildas on today's scoresheet, the Americans' 1-0 win in Newcastle giving them the inaugural Pacific Cup crown.
The one-goal loss is the equal best result for Australia against the number one team, previously recording two 2-1 losses in mid-1996.
The rain pelted down for the majority of the tournament decider, a strong wind making conditions even more difficult. The dynamic USA controlled much of the game, notching up a shots tally of 19 to 4 ahead of the Matildas. Australia on the odd occasion looked promising on the attack, but lacked that final killer edge.
The two sides traded play early in the piece, some near chances on goal produced at each end. But midway through the first half, USA kicked up a gear and performed at their slick best, stars Mia Hamm and Tiffeny Milbrett combining in fantastic fashion in attack and unlucky not to convert before the break.
Matildas goalkeeper Tracey Wheeler played one of her best ever matches, rescuing her side with two remarkable saves and a solid performance throughout. USA's Milbrett was played in behind the Aussie defence with a perfect one-two move by Hamm, leaving Milbrett with only the keeper to beat in the 20th minute. Wheeler made a stunning reflex save to her left to parry the Milbrett drive, then scampered to haul in the ball ahead of another American in for the chase.
Seven minutes later, Wheeler this time made a brilliant flying save to her left to palm up against the crossbar a Kristine Lilly drive from the edge of the box. After three further good chances to the visitors, the Matildas were happy to go in at the break still level.
A little of the pace and sharpness of the American attack faded in the second half as Australia fought on bravely. The Matildas created their best opportunity of the game midway through the second half on the quick counterattack. Midfielder Sharon Black, celebrating her 50th cap for the Matildas, made a raid up the right flank before unleashing a rasping drive from the right edge of the 18-yard box which was punched over by the US keeper.
With full-time not too distant, it was a momentary defensive lapse which was to ultimately give USA the tournament winner in the 79th minute.
A high bouncing ball was fed into the lanky Cindy Parlow, the attacker looking to flick it past the equally sizeable Australian defender Cheryl Salisbury. But in her quest to quell the imminent danger, Salisbury elbowed the ball inside the box, and the referee awarded a penalty to the US. Shannon MacMillan made no mistake from the spot, drilling the ball into the centre of goal.
An already fiercely contested clash became somewhat more physical, but the final whistle signalled the single-goal win to the USA.
"Our girls are pretty much on track now," said Acting National Coach Ian Murray after the match. "As I've said before, we've still got ninety days, so it's important what we can achieve in that time. In this tournament, we've cut out all our previous naivety and we've done great. The girls will be on a high after this tournament. We've proved we can match it physically and stamina-wise with the best. Now we'll see how we go in our five games, as that's how many we're hoping to play at the Olympics."