Town produced an eye-catching and vibrant attacking performance, but failed to kill off Rovers and missed a host of chances - as they slipped out of the play-off positions after failing to secure just their second win in eight matches.
Huddersfield only had a Kasey Palmer effort to show for a first half of almost total domination, with Rovers' sole chance being from the spot after Michael Hefele was penalised for fouling Sam Gallagher, with Danny Graham drawing Blackburn level.
Town continued to have the better of it on the restart, but lacked a cutting edge in the final third and couldn't fire a winner.
On the display, Wagner, who felt his side were punished for just one lapse in concentration in the first-half when Hefele conceded a needless penalty, said: "I am not frustrated, we were unlucky. It was maybe one of our best performances all over the season.
"I think this performance showed anybody who thought we had lost a bit of trust, belief and confidence with the past results that maybe after this performance, everybody will know this makes no sense.
"It was a very good performance, to be fair and I think the result is not as good as it should have been after this performance. But if we focus on performance, then the results will come.
"Today, it was not the (right) result. But in the future, wins will come again and we will still focus on our performance.
"If we won this game, it would have been one of the best performances since I arrived.
"We have to make sure we focus on the very positive things we have seen today after the past two defeats. We performed well."