A try in the final 30 seconds allowed Canada to beat Australia 20-17 in the final at the Amsterdam Sevens on Saturday.
Australia comfortably saw off Russia 31-0 in the quarter-finals and then got the better of England 26-0 in the semis.
The English had earlier upset World Sevens champions New Zealand 17-14 and won the play-off for third place against the United States to seal the final direct entry place at the 2016 Rio Olympic Games.
The top four in the Sevens World Series automatically qualify for Rio; New Zealand finished top ahead of Australia with Canada third.
"The last couple of weeks have been a rollercoaster of emotions," Australia coach Tim Walsh said.
"The highs of winning in London and qualifying for the Olympics but then losing the final like that stings. The girls are so disappointed, but we will learn from that.
"We've won in quite a few different ways this weekend in Amsterdam and adapted so well. The competition is so fierce now that you need to plan for every eventuality - dry weather, wet weather, opposition style, and so on.
"Sharni Williams has been spectacular for us in the last few weeks while Emma Tonegato is simply a world-class player who proved that again in Amsterdam."
Share
