They have been tipped to have a repeat of last year's struggles, highlighting the disparity between the league's table-topping big-money clubs and their smaller counterparts, who often focus solely on escaping relegation.
"It's nothing new for us and to be totally honest I can understand them," Wagner told reporters. "They know what we are capable of financially, from the size of the club, from the experience which we have.
"Probably we are one of the favourites for relegation but we have proven more often than not that it doesn't count what the pundits or the odds say, it counts what we deliver and for sure we'll try our best again.
"We will again give ourselves no limit. We will try to make happen again what nobody expected."
Huddersfield have prepared for next season with permanent deals for Terence Kongolo, Jonas Loessl and Florent Hadergjonaj following loan spells at the club and have also signed Egyptian winger Ramadan Sobhi from Stoke City.
Wagner's team host Chelsea in their opening league fixture on Aug. 11.
(Reporting by Aditi Prakash in Bengaluru; Editing by Amlan Chakraborty)
