A disjointed Valley were held to a draw by a well-organised Moulton side in the first home outing of the season.
Harrison Nee's second half penalty was cancelled out by Connor Bailey's fortuitous equaliser a few minutes later to give the visitors a deserved point for their endeavours.
Town's starting line-up was unchanged from the opening day victory at Histon, although there was a place on the bench for midfielder Charlie Tilley.
Rugby made a reasonably bright start to the game, and Aaron Nuttall's dart to the byline ended with a cross that was caught at the near post by Moulton keeper Adam North.
A cross from the other wing from Sam Tye was cleared away, and shortly after Tye looped another ball into the box which Ryan Bridgewater headed well over the bar.
Devonn O'Sullivan's through-ball then played in Rivel Mardenborough, but he was denied a shot by a neat block tackle by Dante Grey.
The visitors started to find their feet though and began to look increasingly dangerous on the counter, with Connor Bailey firing one wide and Terry Falcini having a shot blocked.
Bailey nearly broke the deadlock after he had dispossessed Stephan Morley but Ash Bodycote managed to get his fingertips to the resulting effort and helped it onto the crossbar, with Falcini putting the follow-up chance over.
At the other end, Louis Samuels shot high of the frame and Mardenborough's low strike was turned behind by North for a corner.
Another gilt-edged opportunity for the visitors then went begging, with Bridgewater executing a sensational sliding tackle on Nat Ansu when it seemed certain the Moulton striker would help the ball over the line after he had run onto Lewis Isom's pass and rounded Bodycote in the Town penalty area.
Bridgewater was back in the action soon after when cutting out a dangerous cross from Adam Dicks, with Isom also sending in a threatening delivery from out wide.
Bodycote then pushed Falcini's low effort around the post, with the final chance of the first-half seeing Mardenborough's shot blocked after Nuttall had helped the ball onto him.
Valley again made a bright start to the new period, with O'Sullivan blazing one over and Samuels missing out with his near-post flicked header to a Jake Duffy set-piece delivery.
Mardenborough then took too long to get a shot off after the ball had fallen nicely to him in the box following a Samuels' cross, with sub Harrison Nee's teasing centre just failing to find a Town player before it was gathered by North.
The opening goal came on 65 minutes after Daniel White had hacked down Mardenborough in the penalty area following a determined run from Nathan Scott on the right hand side, and Nee stepped up to fire home from the spot despite North getting a hand to the strike.
Moulton responded well though, and Bodycote did well to smother a shot from Ansu before Morley matched his keeper's efforts with a neat block tackle to deny Bailey, before Tyson Aluko's follow-up attempt was deflected over for a corner.
The scores were soon level, courtesy of freakish goal which came after Bodycote's attempted clearance looped back off Bailey and up into the unguarded net.
Both sides traded chances in the remaining quarter of an hour so, with Bodycote saving a well-struck effort from Ansu with his legs and Ryan Boothe almost catching out North with his poked effort.
Ansu headed a Dicks' cross wide and both Jake Wormleighton and Sam Tye could not make headers in the Moulton box count, with Tye guiding a futher header into North's arms at the death.
