Up to 100mm of rain is predicted for Saturday on top of the 200mm dumped this week. Strong winds are expected to lash high areas.
"These events are not over by any means," Premier Ted Baillieu told reporters at the state's emergency control centre in Melbourne on Friday.
Deputy Premier and Emergency Services Minister Peter Ryan said six army trucks were in the town of Shepparton ready to ferry sandbags, food and water to stricken residents.
State Emergency Service operations director Trevor White said 130 roads were closed, with more closures likely.
Mr White said crews were better prepared than ever to deal with floods thanks to three control centres in the towns of Wangaratta, Bairnsdale and Shepparton.
The SES was mobilising people and equipment and had sent about 30,000 sandbags to the state's northeast.
The towns of Yarrawonga, Beechworth, Yackandandah, Myrtleford, Bright and Mt Beauty had been identified by the SES as the areas of most concern.
Tallygaroopna, north of Shepparton, was hardest hit on Thursday with residents told to prepare to evacuate as the channel to its east overflowed into the township.
Major flood warnings were in place for the Murray River upstream from Lake Hume, the Mitta Mitta River upstream of Dartmouth and the Snowy River in Gippsland.
Bureau of Meteorology forecaster Peter Blake said Friday's reprieve from the rain would be short lived, with the already drenched north-east expecting up to 80mm of rain on Saturday.
Mt Buller, which had recorded 366mm in the past six days, was expected to receive another 100mm.
"We pushed the trough off into NSW and all our guidance suggests the rain is going to come back from NSW again and intensify over the northeast," Mr Blake said.
"I think we will start to see it rain at midnight or shortly after over north-eastern Victoria."
He said the heaviest rain would be during the day, "possibly up in the area of 50mm to 80mm. I can't rule out somewhere getting 100mm, especially about the ranges."
In the past six days parts of the northeast have recorded rainfall well above 100mm, with Albury receiving 192mm, Wangaratta 196mm, Mangalore 161mm and Shepparton 114mm.
"They certainly don't need anymore (rain) but unfortunately that's the way things are going to be. We've got to get rid of this moisture and we have to wait until next week or early next week until we push it off to NSW," Mr Blake said.
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