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Wonder Guard only allows super effective moves to hit.
It does not prevent stat-altering moves, such as Tail Whip, from hitting or from lowering the Pokémon's stats. Also, it does not prevent damage from weather conditions or entry hazards. Moves which cause status ailments, such as PoisonPowder, can still be used. In addition, the Pokémon can still be afflicted with status ailments and receive damage from those status ailments. Wonder Guard does not block Struggle from hitting, nor does it block moves whose types do not come into play for damage calculation, such as Beat Up. In Generation IV, Fire Fang hits even if it is not super-effective, though this was removed in Generation V.
Wonder Guard cannot be Skill Swapped or copied by Role Play, but it can be Traced. In addition, Wonder Guard cannot turn into Mummy.