There are 13 league games still to play this season, and Torreira is optimistic the north London side will seal a Champions League position.
Lucas Torreira reckons Manchester City were the better side after Arsenal were thrashed 3-1 on Sunday but he wants his side to "turn the page as quickly as possible".
Aguero broke the deadlock within 46 seconds but Laurent Koscielny responded for the Gunners ten minutes later as the defender headed home from a corner.
The Citizens kept piling pressure and it paid off just before half-time as Aguero handed City the lead again. And, in the second half the Argentine completed his hat-trick in the 61st minute by converting a Raheem Sterling cross.
However, the Gunners midfield marshall is convinced they have a chance to seal a top-four position as they are three points behind fourth-placed Chelsea and a point adrift off Manchester United - who sit on fifth spot in the Premier League table.
After Arsenal's defeat to Man City at the Etihad, the Uruguayan told the media as Arsenal.com quoted: "Well it was a very difficult game to come up against one of the best sides in the Premier League. We knew that would be the case and there were times where we managed to stay in the game, we were sticking together and we pressed them. From there, we managed to get the equaliser in the first half. Then, because of things that happened in the game, they managed to get it to 2-1.
"Then in the second half it was a completely different game. We went looking for the equaliser. We couldn’t create the chances, they did, and they got the third goal.
"It was a very difficult game but we know that Man City are one of the best teams in the country. They’ve got some great players and they play some great football. That said, we prepared well and at times during the game we were able to stay with them. We matched them and we equalised to make it 1-1, but then we were unable to create chances after that. Then, because of how the game went, they got the second goal. That was telling."
On whether the Gunners were aware of United's 1-0 win over Leicester before kick-off, he replied: "No, we were just focused on our game because it’s a really important one for us. We know there’s other teams around us fighting for fourth and it’s going to be an intense battle for the Champions League spots, but there’s a long way to go. We’ve got a great group, very united, and I just think we want to try to improve as much as possible."
And regarding bouncing back to winning ways as quickly as possible, the midfield marshall said: "Today United have overtaken us. It’s important to turn the page as quickly as possible. This is football, sometimes you win and sometimes you lose. The most important thing is that we keep trying to improve. There’s a long way to go in the Premier League, so it’s about trying to achieve our objectives in the time remaining."