Fontvieille, Monaco (SportsNetwork.com) - Arsenal claimed a 2-0 win at the Stade Louis II on Tuesday but was eliminated from the Champions League by AS Monaco on away goals.

Things looked dire after Arsenal suffered a 3-1 home defeat in the opening leg, and while the Gunners produced two goals in the return match courtesy of Olivier Giroud and Aaron Ramsey, the English side fell just short of a miraculous comeback, crashing out of the competition before the quarterfinals for the fifth consecutive year.

Arsenal broke the deadlock in the 36th minute when Giroud latched on to Danny Welbeck's through ball and fired a shot toward goal that was stopped by Danijel Subasic. The rebound, however, fell kindly for Giroud, and the France international sent a shot into the roof of the net to give the Gunners the lead.

The goal galvanized Arsenal, nearly giving way to a second just two minutes later when Welbeck hammered a shot toward goal from the center of the box, but Aymen Abdennour flung his body toward the attempt and blocked the ball away for a corner.

Arsenal pulled another goal back in the 79th minute when Theo Walcott slammed a square pass off the base of the post, only to see Ramsey tuck the rebound just inside Subasic's far post.

The Monaco 'keeper came up big three minutes later by denying Giroud's header from close range following a free kick, stopping the effort on the goal line to allow the hosts to remain in front on away goals.

It proved to be a pivotal stop as Monaco staved off considerable pressure from Arsenal in the closing stages to advance.

Also on Tuesday, Atletico Madrid needed penalties to advance to the Champions League quarterfinals after claiming a 1-0 victory over Bayer Leverkusen at the Vicente Calderon.

Mario Suarez struck for the home side in the 27th minute, and with neither side finding a goal the rest of the way, penalties were needed to decide a winner.

Both sides missed two of their opening four attempts, and after Fernando Torres buried Atletico's fifth kick, Stefan Kiessling fired his shot over the goal to see the Spanish side advance.