The tournament takes place in Valdivia from September 26 to 30, with the winners qualifying for the Olympics and the teams placed second through fourth going into a second qualifying competition.
The hosts have been drawn alongside Brazil, Argentina and Mexico, and while Aragonese admits her side are not good enough to beat the Brazilians, she thinks they may surprise their other rivals.
"Our goal is to beat Mexico and Argentina because we have never defeated them," Aragonese said.
"We know we can make it into the repechage. We'll have the bonus of our supporters and we must make sure we use their support to drive us."
The Chileans lost four friendlies against Cuba last week but despite those defeats coach Cristian Santander believes it was a valuable learning experience.
"Playing such a powerful team as Cuba was an excellent experience for us," he said.
"There were very important physical differences between both teams, but we put some new attacking and defensive plays into practise under pressure.
"We'll find it quite difficult to motivate ourselves against better teams but we are not scared.
"There is no team who have pressured us like Cuba did, so concentration is crucial. We learnt we have to remain calm under pressure."
Fourth is no good enough