Marco Reus put the world champions ahead after just 17 minutes before goals from Mile Jedinak and James Troisi put the Socceroos in the lead.
Substitute Lukas Podolski rescued a draw for Low’s men with a goal in the 81st minute.
Low feels that his team failed to build on their strong first half.
“The first half was pretty good for us, in the second half, the clinical edge was missing,” he said. “In the beginning, we made some good chances, but in the second half we couldn’t find our structure.
“We were not able to implement our plan the way we wanted to implement it. We know we have to beat Georgia in the European Championship qualifiers on Sunday.”
Australia coach Ange Postecoglu added that he was delighted with his team.
“I am very proud of the players, not just because of the result,” he said. “In the first half we were always dangerous. It was a fantastic performance from us.
“It is a 10 in the morning in Australia, people will go to work in a good mood.”