The 22-year-old centre-back is set to complete a move to the Welsh club in a deal worth £7.2 million, per Sky Sports.
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Fiorentina have reportedly inserted a 50 per-cent sell-on clause should a deal be agreed between the two clubs.
Moreno spent last season on loan at La Liga side Levante, where he made 28 appearances.
While the Argentine is yet to agree personal terms, it looks likely he will be playing his football at the Racehorse Ground next season in the English Championship.