A driving run by Shontelle Smith earned a rare foul from referee Helen Mallon, and Caitlyn Bloxham's pinpoint free kick targeted Fraser, who leapt high in the penalty area to beat keeper Courtney Norman with a looping header that slotted into the top left corner of Central's net.
In her first game back with Footballsouth after moving north for Olympic trials, Fraser led the Otago attack with style, combining with Sam Muirhead, and running on to an early plentiful supply of through-balls from midfield that should have put Footballsouth into a comfortable lead.
However, poor shooting hardly tested Central keeper Norman, and it was coach Simon Lees' side that broke away after 19 minutes to open the scoring through Emma Boyak, as she fed on great service from midfielder Jane Barnett.
Both coaches will spend their next training sessions tightening up defences that might have produced a 9-8 scoreline, but spectators enjoyed the cut and thrust.
Footballsouth scored after 29min through Smith, and coach Nick Rzepecky's side had locals dancing when Muirhead coolly slotted her side in front after 43min - but 3min later Central equalised for 2-2 at the break.
The second half saw a spirited Footballsouth fightback, but it was Boyak who shot Central back into what looked like a final 3-2 scoreline.
Then Fraser produced her towering header to rescue a point. If there were any neutrals at Tahuna Park, they might have agreed that a draw was a fair if pulsating result.
Rzepecky praised his side's superb start, and singled out Fraser, Smith and Kushla Glover for mention, plus keeper Tessa Nicol for several brave and spectacular saves.
Central coach Lees was happy with his side's recovery after a poor start. He felt the Boyak-Barnett combination showed class.
Women's football
The scores
Footballsouth 3
Shontelle Smith, Sam Muirhead, Mary Fraser
Central 3
Emma Boyak 2, Rhonda Bridges
Halftime: 2-2.
