Both teams go into the meeting on three points after the Austrians beat Jordan with Lionel Messi scoring a hat-trick in Argentina's 3-0 win over Algeria, prompting Rangnick to sound a warning to his squad.
"Let's talk about the weaknesses: there are none, not that we were able to observe," Rangnick said of Lionel Scaloni's side on Sunday. "Their strengths, they are outstanding. The players can also play with two or three different types of teams.
"I don't know how many people will bet on Austria and how many will bet on Argentina. If you look at the algorithm, it probably says we won't win tomorrow."
"We have stuck to our routine, we have presented the opposition just as usual. We have discussed what to do in possession, out of possession, and in set pieces, and we've tried to tell the team what to do to beat them.
"Obviously, they have the greatest player of all time in their team, so we have to show we're one of the best teams at this World Cup.
"We have to be very strong tactically, but we have to be very courageous. We have to bring our A game tomorrow, and we will maybe have to show the best performances we have ever done under my tenure."
Austria are appearing at the World Cup for the first time since 1998, with Rangnick masterminding their return to the competition since taking over from Franco Foda over three years ago.
Their win against Jordan was their first at a World Cup in 36 years, and Rangnick declared defender Stefan Posch would be available to play in a mask after being fitted for the protective headgear in Los Angeles last week.
"We will play against all the odds," said Rangnick. "But that means we might cause a surprise, it might be a draw or a victory, but anything is possible because we're talking about a ball sport and a team sport.
"We have our own style, and we have grit and courage, and we can decide the game. This is what makes or breaks you. I know Argentina play at a distinguished level, but what is important is the level we are going to play."
