With Bangladesh knocking out New Zealand in what was an epic of a game last night, only a win would now allow Australia to enter the semi-finals of the marquee event.
Eoin Morgan needs 92 runs to become the third England batsman to reach 5,000 ODI runs.
Only a win will do for World Cup champions Australia in Saturday's match as another no result would see Bangladesh, who defeated New Zealand by five wickets in Cardiff on Friday, into the knockout phase.
But the response from Stokes (102no) and Morgan (87) was decisive, irresistible and prolonged as their stand of 159 from 158 balls consolidated the eight wickets Adil Rashid and Mark Wood had shared to restrict the tourists.
Mark Wood and Adil Rashid wrecked Australian batting lineup as they took 4 wickets each to enable a batting collapse.
This was a meeting between a confident, aggressive England favoured to lift the Champions Trophy and an out-of-season Australia playing their first completed match of the trip.
Travis Head joined Smith out in the middle, but with Rashid limiting scoring opportunities and Wood back on for his second spell, the Australian captain - who had looked in cruise control until that moment - had an inexplicable lapse in concentration, chipping a half-volley straight to Plunkett to fall for 56, Smith shaking his head in bewilderment as he trudged back to the pavilion.
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"I think it makes the equation pretty simple for us", said Smith, whose side suffered an Edgbaston defeat by England during the last Champions Trophy four years ago.
Both left-hander David Warner and opening partner Finch were in good touch after England captain Eoin Morgan won the toss.
Smith and Finch's second-wicket stand was only four short of three figures when Stokes came up with the much-needed breakthrough thanks to an excellent catch by Morgan, at first appearing disorientated under a high, swirling ball but recovering his composure to circle from mid-off to extra-cover and hold the chance.
"They don't like to change a lot so from our aspect we know that and that's something we can play on".
The onslaught continued and a century beckoned for Morgan but he was run out by Zampa.
He caught and bowled both Matthew Wade and Pat Cummins, with Mitchell Starc falling for a duck in between when caught by the spinner's Yorkshire colleague Joe Root.
England, chasing 278, were 240-4 after 40.2 overs when rain gods came in for the second time during the innings and the match was officially called off by the umpires at that stage. Head's 64-ball innings was laced with five fours and two sixes as he lifted Australia to 277/9. The team England, however, will be looking to get a positive result and if the team will be performing well then it can reach the semi-finals round of the match.
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