The home side appealed for a penalty towards the end of the first half when James Collins fouled Andrew Surman, but Foy correctly ruled the challenge was just outside the area.
It was a close call and Allardyce appreciated Foy making the decision which denied Norwich a spot-kick and left them with a free-kick from which nothing came.
Asked after if the referee deserved credit, Allardyce said on Sky Sports 2: "No doubt about that. Those decisions can make or break you.
"Chris has made a correct decision today and by the looks of it, where the player finished, he could easily have thought that was in the box.
"Luckily for us it was a major decision the referee got right and I'm really pleased about that."
Allardyce was happy with a "hard-earned point" and his team's third clean sheet in four Premier League games since their promotion.
He rued the "quality of ball" in the final third, apart from when the standard improved thanks to substitute winger Matt Jarvis, who according to his manager sent "two great balls" across.
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