The Prophet ﷺ used to raise his hands when he began to pray, when he wanted to bow, when he raised his head from bowing, and when he stood up after the first two rak'ahs, he would raise his hands likewise, level with his shoulders.  

عَنِ النَّبِيِّ ﷺ أَنَّهُ كَانَ يَرْفَعُ يَدَيْهِ إِذَا دَخَلَ فِي الصَّلاَةِ وَإِذَا أَرَادَ أَنْ يَرْكَعَ وَإِذَا رَفَعَ رَأْسَهُ مِنَ الرُّكُوعِ وَإِذَا قَامَ مِنَ الرَّكْعَتَيْنِ يَرْفَعُ يَدَيْهِ كَذَلِكَ حَذْوَ الْمَنْكِبَيْنِ