What can be blocked using Peach's neutral special (Toad Guard)?
The SSBM wiki page above says nothing about what can actually be blocked by Toad, and only says:
Upon being hit, Toad will emit a damaging shower of spores. Unlike Roy or Ike's Counter which increases in damage when countering stronger attacks, Toad's spores do the same damage (3% each for a total of 18%) and knockback regardless of the power of the blocked attack. The spores themselves can be absorbed, and the move is in fact the only counterattack that fires projectiles when activated.
Melee's instruction manual is also scarce in detail:
Counter enemy attacks by blocking them with Toad.
So what attacks can actually be blocked? Is it all ranged attacks? Physical attacks? Some combination of the two?
To avoid some confusion I noticed in previous questions, this question is asking specifically about Super Smash Bros: Melee.