The Gunners had a goal disallowed in what was an evenly-contested encounter at Stamford Bridge, and Wenger thinks that his side's performance demonstrated that they have recovered from last month's humiliation at Anfield.
"It was about mentality and a response from our last away game. We could have won it. It was an intense game," he told Sky Sports News.
"The battle was total. We are not in a transfer period and on the day we played Liverpool that affected us. We are all human beings. If you play 55 games a season you can have a bad performance.
"But we were focused and determined. We tried to play when we had the ball and we were close to winning the game. With a bit more freedom we would have won the game."
The Gunners next face Doncaster Rovers at the Emirates in the EFL Cup then welcome West Bromwich Albion in the league a week tomorrow.