The wet and cool weather is expected to continue across the region until the weekend, officials say.
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Bureau of Meteorology senior forecaster Michael Efron said rainfall totals of 5-15 millimetres were likely on Wednesday.
Northerly winds were also expected to strengthen, and a severe weather warning was in place for elevated parts of the state's north east.
Mr Efron said further rain was expected until the weekend, when a cold and gusty weather front was due to cross the state.
"Throughout the early hours of Saturday we see that front crossing the state, bringing some really cold air (and) some strong and gusty westerly winds," he said.
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"But it really is all about that cold air - we're seeing snow falls down to potentially 700m elevation throughout Saturday, local hail and thunder as well.
"It is looking really good for those alpine resorts."
Close to 10mm of rain has been recorded at Bendigo so far during July, though only three days this month have been completely dry.
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