United are on the verge of confirming their move for the German, who will become their interim manager for the remainder of the season before moving to a two-year consultancy role next summer.
Moyes, who was hand-picked by Sir Alex Ferguson but lasted just 10 months in the job at United, says the decision to appoint Rangnick is 'interesting'.
'[He is] a very experienced manager, very well thought of throughout the coaching world so that will be interesting for Manchester United ,' said Moyes.
'He is someone who is incredibly well thought of throughout Europe and now we have a chance to see him in the Premier League.'
Meanwhile, Chelsea boss Thomas Tuchel believes United are getting an 'elite manager' in Rangnick.
'He helped me a lot because he was my coach,' said the Chelsea manager.
'And then he was one of the main figures to convince me to try coaching. So a huge influence on all of us at this time, because he showed us that it's not necessary to follow people to the toilet in football games.
'There was the belief in those days that the defenders follow their strikers wherever they go.
'He was very early a leader in bringing zonal marking and pressing and the line of a back four into German football and still being aggressive.
'He was one of the pioneers to introduce a 4-4-2 and high pressing. So tactically for sure he is an elite manager with Pep Guardiola and Jurgen Klopp and Antonio Conte.'
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