The Australian and NZ dollars strengthened against their major counterparts in the Asian session on Tuesday amid rising risk appetite, as U.S. authorities gave full approval for the Pfizer-BioNTech Covid vaccine.

The new authorization grant final approval for Pfizer's vaccine in the United States for people aged 16 and older.

Growing cases of Delta variant virus dampened hopes for an early tapering of the Fed's bond buying program.

Market participants have scaled down their expectations that Fed Chair Jerome Powell's speech at Jackson Hole this week will indicate a timeline for winding down the Fed's bond-buying program.

Data from Statistics New Zealand showed that New Zealand retail sales rose a seasonally adjusted 3.3 percent on quarter in the second quarter of 2021 - accelerating from 2.8 percent in the three months prior.

The total value of retail sales rose 4.0 percent on quarter (NZ$1.1 billion).

The aussie appreciated to 5-day highs of 0.7238 against the greenback, 79.52 against the yen and 1.6225 against the euro, up from its prior lows of 0.7201, 79.01 and 1.6302, respectively. The aussie is seen finding resistance around 0.75 against the greenback, 82.00 against the yen and 1.60 against the euro.

The aussie rebounded to 0.9147 against the loonie, up from a 15-month low of 0.9114 seen at 9 pm ET. On the upside, 0.93 is possibly seen as its next resistance level.

The kiwi firmed to 6-day highs of 0.6943 against the greenback, 76.28 against the yen and 1.6914 against the euro, from its early lows of 0.6879, 75.50 and 1.7064, respectively. The next possible resistance for the kiwi is seen around 0.71 against the greenback, 78.00 against the yen and 1.66 against the euro.

The kiwi edged up to 1.0423 against the aussie, off its early low of 1.0471. Next key resistance for the kiwi is seen around the 1.03 level.

Looking ahead, U.S. new home sales for July will be featured in the New York session.

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