The Briton, champion at the World Indoors this year, had been favourite to win the pole vault, while her team-mate Charlie Dobson had clocked the quickest qualifying time ahead of last night's 400metres.
Caudery had to make do with the bronze medal, while Dobson's personal best for one lap of the track was only enough for silver.
Such has been the speed of 24-yearold Caudery's progression that a podium finish at a major competition should be seen as a negative, and she is expected to be among the medal contenders come the Olympics.
"I just got a bronze medal at the European Championships," said Caudery, whose best clearance of 4.73m was 13cm shy of her personal best set this year.
"If I had told myself that [I'd won a medal] a year ago, I would have been absolutely over the moon. But I think I have a new expectation myself. It was so close, but I'm still so happy.
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