Australia's Champions Trophy hopes rest on tenterhooks after it drew 1-1 with world No.1 Argentina at the Olympic Hockey Centre.

In a dramatic final three minutes with the game tied 0-0 captain Katrina Powell intercepted an Argentine pass to skip down the right line rocketing the balling into the waiting stick of Peta Gallagher who snapped it home.

But less than 20 second later the Argentines raced the ball back up-field with Agustina Garcia smashing home a shot from five metres only to have it called back for an Australian infringement.

However, the dynamic No.10 then slotted home the goal for the Argentines off the resulting penalty corner as the Australians rocked back on their heels, shocked.

Australia must now beat Korea on Saturday and hope either Argentina is beaten or draws with the Dutch or leaders China loses to England to make Sunday's gold medal game.

The two highest ranked teams go through to the final and Australia now sits one point behind Argentina, and three behind leaders China with the other three teams in the tournament out of contention.

Australia continued its frenetic start to games at this tournament, unleashing two shots in the first five minutes but like its loss to China on Tuesday could not maintain its momentum through the latter stages of the half.

The Hockeyroos again broke down in the midfield as the Argentines' rapid passing game took the ascendancy with Luciana Aymar and Garcia taking control of the game.

Player of the year award nominee Aymar was a constant menace pilfering Australian ball and counter-attacking while the Hockeyroos recently reliable back three turned-over several balls with brick wall Katie Allen down on her usual game.

Just three minutes before the break, Australian Louise Dobson got her second card and was sent from the field until halftime with the Hockeyroos lucky to repel a penalty corner and head into the break tied 0-0.

Brought to you by AAP © 2024 AAP