Having been held by the Liga outfit at Mestalla, the veteran coach believes that his troops must work on finding more space against defensively solid teams
Goals from Sofiane Feghouli and Thomas Muller ensured a share of the spoils, but the Germans will have hoped for more having played against 10 men for much of the encounter.
"Valencia defended very well. We could not find space, which gives us homework for the next match. They played very well, but it was a very even match," he told reporters.
"They showed that their players can play at their best. Bayern can and will improve. Lille's win tonight might have influenced our performance, which is perhaps why we didn't play at 100 per cent.
"Valencia are one of the three biggest clubs in Spain and they are never easy to play against. They put in a very good performance."
Meanwhile, Feghouli feels that his team-mates gave a good account of themselves, particularly given the difficulties of playing with 10 men.
"When we look at the course of the game, we are very pleased with this result," he told belN Sport.
"It was a great game, we worked as a unit and were aggressive. We will fight until the end for first place. With my team-mates, we showed the beautiful face of Valencia tonight."