What colour the Kookaburras will be playing for will be decided when they tackle Germany in the semi-finals on Tuesday.

The world number ones came through their pool unbeaten but had a big fight on their hands against the third ranked team from The Netherlands.

The Dutch ended Australia's campaign in Rio and while the Kookaburras were never behind in the clash, they were forced into a penalty shoot out when the Dutch levelled things at 2-all from a penalty stroke with 10 minutes left in the game.

However goalkeeper Andrew Charter stepped up to the mark and prevented the first three attempts in the shootout.

Australia converted all three of their shots to ensure their hopes of gold remain alive.

Germany, who are ranked sixth, scored a 2-1 win over Argentina to progress.

Meanwhile Culcairn product Andrew Hoy is chasing a fifth Olympic medal in his record-breaking eighth Games.

Hoy and Australian eventing teammates Shane Rose and Kevin McNab moved up from sixth after the dressage and into the silver medal position heading into showjumping on Monday.

The 62-year-old is seventh in the individual event and is only four penalties, which is the equivalent of one rail in the show jumping, behind second-placed Julia Krajewski of Germany.

Great Britain are 16.9 penalties clear of Australia in the team event with Oliver Townsend leading the individual competition by two.

Hoy hasn't medalled in the Olympics since winning a third straight team event gold and individual silver in Sydney 21 years ago.

On Saturday, the Australian women's rugby sevens team co-captained by Batlow's Sharni Williams responded from their disappointment of being knocked out of medal contention by winning their last two remaining games.

First they took a 35-7 win over the Russian Olympic Committee before cementing fifth spot with a 17-7 win over France.