Given a $\mathbb{Z}^d$ homeomorphic action, $\alpha$, on the Cantor set, $X$, we consider the higher order continuous integer valued dynamical cohomology, $H^*(X,\alpha)$. We also consider the dynamical $K$-theory of the action, the $K$-theory of the crossed product $C^*$-algebra $C(X)\times_{\alpha}\mathbb{Z}^d$. We show that these two invariants are essentially equivalent. We also show that they only take torsion free values. Our work links the two invariants via a third invariant which is based on topological complex $K$-theory evaluated on an associated mapping torus.