Theo Walcott and Shkodran Mustafi netted for the Gunners, while Leroy Sane and Sergio Aguero scored for City at the Emirates.
However, ahead of Wednesday's clash with West Ham, Wenger insisted that his achievement in guiding Arsenal into the top four year after year should not be underplayed.
"Overall, I felt that it was a mental and that overall, you could the team was a touch down in confidence ... the fluency in our game suffered".
"We have shown great mental resources because we went a goal down twice and one time it was at the worst moment in a game, just before half-time". On top of that, we lost (Laurent) Koscielny and in the second half we came back to 2-2.
"I felt they were absolutely sensational and helped the team today get through that hard moment".
As for the Gunners, they've now won just one of their past six Premier League games, a dramatic downturn in form that has seen them sink to sixth in the table, two points behind fifth-placed Manchester United but more significantly seven behind City.
The Arsenal boss was speaking as a small band of supporters gathered outside the club's training ground to continue the growing protests against Wenger.
"In very hard moments in the game - at 1-0 down, 2-1 down just before half-time - our fans could have turned against us".
Despite the fighting draw - and this performance was infinitely better than most of Arsenal's in recent times, including the 3-1 loss to West Brom a fortnight ago - Wenger's side are still up against it in the fight for a top four place.
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Wenger is yet to announce whether he will sign a new deal at the club, with his current contract expiring at the end of the season.
"In the end we got a point".
Guardiola had said last week that "qualifying for the Champions League is definitely like winning a trophy".
This has led to several fans and critics demanding the removal of Frenchman Wenger, who has been coaching Arsenal since 1996.
"It's not for me to say if it's in the right hands or not but I do believe what he has done in the past is fantastic".
Guardiola said: "Yesterday was the first day he started to go to the pitch to run and walk. We still have everything left to play for".
"I don't know how long I will be here", he said. But I don't think many managers could have done what he has in the last 10 years.
"The board is responsible for the decision which engages the future and I focus on the short-term".