Antonio-Mirko Colak and Tom Lawrence scored for Rangers while Ibrahim Sangare and Armando Obispo netted the goals for PSV.
After 90 minutes, there was nothing to separate the host, managed by former Arsenal star, Giovanni van Bronckhorst was pushed by the visitor, PSV, managed by former Manchester United striker, Ruud van Nistelrooy.
The game in brief
PSV opened the floodgates when Ivorian International Ibrahim Sangare put them ahead in the 37th minute.
Rangers bounced back three minutes to draw level heading into the break courtesy of a beautifully worked goal finished by Antonio- Mirko Colak.
The second half saw both teams continue from where they stopped as another Manchester United link, Tom Lawrence, put Rangers ahead for the first time in the 70th minute.
But in typical fashion, the lead didn't last too long as PSV equalised eight (8) minutes later through Armando Obispo to ensure that the spoils were shared.
All to play for in the Netherlands next week
Following the result at the Ibrox Stadium, there is still a lot to play for in this particular encounter.
Both sides clash again at the Philips Stadion on Wednesday with the winner expected to qualify for the group stages of the 2022/23 Champions League.
PSV booked a spot in the playoffs after a 4-3 aggregate win over French club, AS Monaco, in the final round of the qualifiers.
For the Scottish giant, Rangers, they had to come from a 2-0 first leg defeat to Belgian side Union St. Gilloise to book their spot with a 3-0 win in the second leg.
So, this encounter isn't over, both sides are capable of scoring more goals and going by the first leg display, it could be another goal-fest next week.