The Man City striker, 25, was handed the penalty for his post-challenge kick of Miodrag Dzudovic in Montenegro last week. The ruling means that he will miss the entirety of England's group stage at Euro 2012 and some have begun to speculate that he will not be selected for the tournament at all.
"I think the three-game ban is a joke," Moyes told 5 Live. "But nevertheless, I don't think you need to make a decision just now.
"We are talking about it, but nobody is going to make a decision about it - there is still about six months until the summer time."
He added that Uefa's decision to upgrade the initial one-match ban to three was "excessive".
"There is no doubting that Wayne shouldn't have done what he did," said Moyes. "But I thought they [Uefa] would have near enough let it go. Wayne Rooney is one of the biggest players on the world stage – get him involved in the big games."