Major flooding is occurring along the Murray River at Echuca, Moama, Torrumbarry, and Barham in the bordering towns of Victoria and New South Wales.
The Bureau of Meteorology said recent heavy rainfall has resulted in rapid river level rises and major flooding along the Goulburn and Campaspe Rivers.
"These floodwaters combined with flows down the Murray River have caused major flooding at Echuca and Moama."
The bureau said river levels at Echuca Wharf may reach levels similar to the 1993 flood (94.77 m) on Saturday, with rises to 95.0 metres possible during Sunday into Monday.
The Murray River is expected to peak around 28-30 October.
VICSES said residents can seek relief at the Bendigo Emergency Relief Centre (Bendigo Showgrounds).
They said residents at the Echuca Emergency Relief Centre (Echuca South Basketball Stadium) could be moved to Bendigo.
Residents in Rochester have been asked to move to higher grounds or the Bendigo relief centre as moderate flooding continues along the Campaspe River at Echuca.
"The river is expected to remain around the moderate flood level Friday and into Saturday. Renewed rises are likely in coming days due to flood waters backing up from the Murray River," VICSES said.
It also issued a major flood warning for Loddon Weir to Kerang.
"Flood water is anticipated to be similar to the January 2011 floods at Kerang and surrounds, but remain below the levee (an artificial structure built to contain, control or divert water flow to protect towns from flooding)."
The emergency warning - too late to leave - remains in place on Friday morning for people in Barmah, Lower Moira, Bunbartha, and Kerang Township.
The watch and act warnings are in place for Mooroopna, Charlton Town, Murchison Township, Nathalia and Picola.
The bureau said minor to major flooding is possible along the Wollombi Brook, Lower Hunter, Hawkesbury Nepean and Colo rivers in NSW from late Friday to the weekend.
NSWSES is advising people in North-East Narrabri and Terry Hie Hie to move to higher ground due to dangerous flash flooding.
A watch and act warning has been issued for residents in Barraba and people in Gravesend, Pallamallawa, Yarraman Bridge and Moree due to current floodings.
"Major flooding is possible at Yarraman on Saturday," it said.
Residents in Forbes, a Central West NSW town, have been asked to monitor the situation as the Lachlan river is expected to experience renewed rises over the weekend from further rainfall.
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