It can be done and very easily. Even without 3rd party software, it can be done. You don't need Raster Design either. Put the raster on its very own layer, e.g. C-IMAGE-RASTER. Then simply control the transparency of the image from the LAYER PROPERTIES MANAGER. In the Layer property manager, go to the transparency column in the layer that hosts the image then click on 0 and change the value (the default is 0=no transparency). The transparency range is 0 to 90. Increase the number to increase the transparency. Hint: 50 is a good starting point for transparency. Then increase or decrease as desired.
Make sure your 'display order' has the transparent image in 'front' and the underlying image in "back.' Finally, when you go to print check the box 'Plot transparency' to get the see-through effect.
You can also do this with colored hatch. Even if the hatch is solid you can make it transparent in order to see what's underneath.