The Swedes, aged 20 and 21, were swept to their deaths while snowboarding off-piste at St Anton am Arlberg, in the Tyrol region in western Austria. A third Swede was injured.
In a separate incident, a German skier died at Lec am Arlberg, in the far western Voralberg region. He was also skiing off-piste.
In the same region, two Australian snowboarders caught up in another avalanche were recovered by rescuers thanks to the rescue beacons they were carrying.
The avalanche risk in western Austria is currently set at three on a five-point scale.