Julia Gillard is flying to Victoria today to observe the flood-flighting efforts, with the Murray River expected to peak early next week.
She will travel to Bendigo, then Swan Hill, the ABC reports.
Authorities believe the threat to the northern Victorian town of Swan Hill has eased, with a levee bank expected to hold back approaching floodwaters.
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But, the nervous wait for residents continued on Thursday as the waters make their way down three rivers towards the town.
The nearby communities of Murrabit, Benjeroop, Pental Island and Tyntynder are also being closely watched.
The State Emergency Service (SES) is confident the Swan Hill levee will hold back floodwaters.
"It looks as though the levee is fine," spokesman Lachlan Quick told AAP.
"The levee has been structurally assessed and checked over numerous times and looks okay, so there is not a great deal of threat to Swan Hill."
The water was slowly making its way through a series of rivers: the Little Murray, the Loddon and the tail end of the Avoca River, which was filling up Lake Boga, Mr Quick said.
Authorities say it may be Tuesday before the rivers peak at Swan Hill.
In the Lake Boga township, residents are playing a waiting game after being told to expect the floodwaters to peak on Sunday or Monday.
Local publican Steve Sutcliffe said townsfolk had sandbagged as much as they could and were now waiting for floodwaters to arrive.
"Everyone in the community's effort over the last five or six days has been huge," he said.
"People putting in huge hours sandbagging. Everyone is on tenterhooks, just waiting to see what is going to happen. You keep hearing conflicting stories about how much water is coming and where it is going to go."
Authorities will conduct planned breaches of the levee bank in the Lake Boga area to ease the volume headed for the lake.
In Swan Hill on Thursday, Deputy Premier Peter Ryan described the flood as a "quite remarkable event in Victoria's history" and said support would be provided to local governments to help rebuild roads.
He said he understood the frustration of people waiting for the floods to arrive.
"It is self-evident that the impact of this has been extraordinary, and it continues to be the case," Mr Ryan said.
He said 25-30 per cent of the state was underwater, with a flood front 40km wide in some spots.
More than 75 towns and 4500 people had been affected by the floods, Mr Ryan said.
