Neither side could take advantage of the many chances created, the best of which came when Stephen Hurley let fly with a rocket on 66 minutes, but Holden saved magnificently.
Four minutes later UCD goalkeeper Darren Quigley made a fine challenge on Willie Doyle as he was about to connect with a right-wing cross from Darryl Kavanagh.
Waterford’s Sean Finn went close in the first half, as did Niall Andrews.
At the other end, Paul Whitmarsh went close for the visitors in the 10th and 16th minutes while Tony McDonnell headed over from a Hurley corner in the 11th minute.
Waterford have now gone nine league games without a win, six defeats and three draws.
Meanwhile, Sligo Rovers made it six wins on the trot and extended their advantage at the top of the first division table to eight points at the expense of Athlone at the Showgrounds.
Athlone proved stubborn opposition and it took all of 72 minutes for the home team to break them down.
The breakthrough came from a Sean Flannery header after some good work from substitute Stephen O’Donnell. However, Town weren’t finished yet and but for a goal line clearance from Liam Burns late on, the visitors could have stolen a draw.
A minute’s silence was observed before the game in memory of the victims of the London bombs outrage.
Peter Hynes grabbed an equaliser for Dundalk as they earned a point against Cobh Ramblers in their first division game at Century Homes Park.
Dundalk took the lead in the 39th minute, when Murphy’s corner was finished by McGuinness from six yards.
Cobh levelled 12 minutes into the second half when a mistake by McGuinness was clinically punished by Kieran O’Reilly, who drilled home from the edge of the area.
Conor Meade put Cobh in front seven minutes later with a stunning volley to the top corner of Aaron Shanahan’s net, but Dundalk hit back on 76 minutes when the visitors failed to deal with Murphy’s free-kick and Hynes headed past O’Shea.
In the other eircom League First Division game Kildare County went down 2-0 to visitors Kilkenny City, thanks to a goal in each half from Tadhg Purcell and Philip Sheppard.