Midfielder Eran Zahavi gave Tel Aviv the lead in the first half with a stunning strike on the 12 minutes away from home.
However, Haifa patiently hit their stride, Spanish midfielder Rayo slotted in the equalizer in the 36th minutes in front of the home fans.
“I think a draw is a fair result,” said Haifa coach Marco Balbul. “The players deserve a lot of credit for their determination.”
Kamara side is in a poor run of form four-match winless streak since their victory against Beitar Jerusalem April 5th.
With four matches remaining Tel Aviv remain eight points clear of second-place Hapoel Beersheba and third-place Ironi Kiryat Shmona.
Haifa will be away to Beitar Jerusalem next Sunday in the Ligat-Al playoff champions group.
Haifa lies in fifth position in the race to qualify for European competition with four matches to end the season.
Nevertheless, a win at Teddi Malcha Stadium this Sunday against Beitar Jerusalem who are two points ahead of them will boost their chances of European qualification.