The Gunners looked set to leave the Veltins Arena with all three points after Theo Walcott and Olivier Giroud fired them into a 2-0 lead.
But Klaas Jan Huntelaar pulled a goal back before half-time, and a second-half strike from Jefferson Farfan earned the German side a point.
But Wenger was pleased with the response to Saturday's lacklustre defeat to Manchester United, and insisted a draw was a fair result.
"With all the stick we got after Saturday's game, it was important to show a good response and I think we did that," he said. "It was a difficult game - a good one as well, both teams played very well.
"It was unfortunate that we conceded that goal before half-time, and in the last minute we had the chance for 3-2, but overall I think a draw was fair.
"At 2-0 you have not won the game in the Champions League. German teams have physical quality and technical quality and they never give up, so I never felt the game was over."
Arsenal midfielder Mikel Arteta added: "Considering we were 2-0 up, it can't be good for us. We had the last chance too with Theo.
"We were unlucky to concede just before half-time. It was a completely different game, but that happened. But this is not an easy place to come. We'll take the point."
And Walcott said: "It was a good point in the end. It would have been a fantastic victory, they dominated the second half but we defended quite strongly.
"We'll try to win our last couple of games and as long as we do that, we'll get into the next round."
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