Moraschi was born in Ingham, Queensland but moved to Sydney and then Griffith at a young age.
Moraschi played his junior rugby league with Griffith and starred in the local competition winning the NSW Country Player of the Year Award in 1965.
Moraschi made his debut for Balmain in the 1966 season and in the same year was a member of the clubs losing grand final side against St George.
Moraschi played a total of 34 games for Balmain but chose to sit out the entire 1969 season because of the way player transfer payments were handled by the NSWRL board.
In 1970, Moraschi chose to return to play rugby league and joined North Sydney.