Bayern Munich came back from two goals down to draw Real Madrid 2-2 on Wednesday on Matchday 3 of the UEFA Women’s Champions League league phase.

Real struck first and early through a bit of in-the-box wizardry from Linda Caicedo in the seventh minute. With the ball at her feet, the Colombian magician knocked it hard toward the byline and turned on the jets to escape a corral of three Bayern defenders—reaching it just before it fizzed out of bounds and airdropping it directly in front of goal for a sliding Athenea del Castillo.

Just like that, Bayern was on the back foot, and things were soon to get worse.

In the 22nd minute, a deep free kick found its way into the box, intended to be headed from one post back across to the other for a tap-in. Bayern forward Pernille Harder managed to intercept the cross but was off balance. Her headed clearance took it away from one back-post runner, former Bayern striker Lineth Beerensteyn, but not the second: center-back María Méndez. Méndez returned it centrally to Beerensteyn, who nodded it home to send the Bundesliga leaders into serious trouble.

Bayern still worked for chances, however, and finally got back into the game at the half-hour mark. After a well-won corner by Klara Bühl, Bayern’s star winger delivered a perfect cross onto the head of striker Edna Imade, who towered over everyone to knock it in and pull one back.

From there, the chase for an equalizer before the break was on. A fast break led by Bühl resulted in a snatched chance for Pernille Harder. Then, Harder slipped Franziska Kett behind the defense down the left flank to produce a dangerous cross that eventually arrived for both Bühl and Linda Dallmann to take a crack at goal; the first was blocked, while the second flashed wide. It was not quite squandered, but devastatingly close—the story of Bayern’s night.

Bayern coach José Barcala made one change at the half, swapping defender Magdalena Eriksson on for Vanessa Gilles. It was a first half that had seen the Bavarians largely in the ascendancy aside from the two gut punches, and the second half nearly started with another: Caicedo unleashed and drove in transition in the 50th minute all the way to Bayern’s box. At the last moment, her footing went wrong and, to sighs of relief around the stadium, she could only send her shot straight to the rafters.

Left to survive, Bayern replied almost instantly. A Harder pass found its way to Dallmann, free and clear inside the box after a clever Imade dummy. Bayern’s #10 could only sting the palms of former Wolfsburg and Germany keeper Merle Frohms, but no matter: as Real attempted to dribble out, Momoko Tanikawa rushed in to steal it at the top of the box. The Japanese internationaltook a single steadying touch before whipping in a delicious curler just beyond Frohms’ reach—a goal that cemented her Player of the Match honors on the night.

Both teams had chances to break the deadlock after that through their strikers, though both Imade and Beerensteyn saw their efforts tamely collected by the respective keepers. In stoppage time, Bayern came closest: substitute Sophie Proost made a charging run down the right flank, then cut inside for a left-footed shot, only to strike the post.

And so the teams shared the spoils. It is Bayern’s second draw out of three matchdays, and Real’s third; both teams sit in the qualification playoffs zone of the UWCL league phase. Bayern dominated in possession and chance generation, and as in the Manchester City game a month ago, should be disappointed to drop points.

However, this time it was not a second-half collapse from a two-goal lead, but a clawing back from a deep early hole that did not feel entirely reflective of the balance of play. In that respect, the German giants can count themselves grateful not to have been punished harder for their early lapses.

“We deserved three points tonight,” summed up Harder after the game (via FCBayern.com). “Even so, we can be happy with our comeback.”

Bayern returns to action on Sunday in the DFB-Pokal, hosting Bayer Leverkusen in a Round of 16 match. After that it is Friday vs. Werder Bremen in the Frauen-Bundesliga.

As for the UWCL, the gauntlet continues: at Paris Saint-Germain on November 10th, at Austria Wien on November 19th, and hosting FC Barcelona on December 16th.