After an inconsistent season, the challenge ahead of United is a daunting one given reigning European and German champions Bayern's stunning form this season, but player-coach Giggs does not feel Pep Guardiola's side are necessarily favourites for Tuesday's clash at Old Trafford.
Premier League champions United have lost seven games at home in all competitions this term, while Bayern have lost just once in 41 outings.
However, Giggs was bullish about the Old Trafford outfit's prospects of springing a surprise.
"We don't see ourselves as underdogs," said the Welshman on Monday. "We see ourselves as Manchester United, playing at home in the Champions League.
"These are two huge clubs with two great histories, two teams who have played football the right way."
Giggs was also quick to deny reports his rapport with manager David Moyes was beginning to feel the strain over his lack of first-team action, and insisted he was prepared to wait for his opportunity.
"The relationship is good, there is no problem with the manager," he added. "I know a lot of stuff has been said (in the media) but I don't know where it has come from.
"Of course, as a player you want to play all the time but I know I'm not going to play every game. The last time I played (against Olympiacos) was my first start in six or seven weeks but we have a lot of players to choose from.
"You've seen from the performance against Olympiacos that I'm always ready to play. That's what you have to do, not sulk because you're not playing.
"You've got to be ready to play for the team and I was."
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