EURCAD Cup and Handle?

I have thought the EURCAD had been developing a cup and handle pattern, but the handle has dipped a little further than I typically would like. We have respected the 61.8% Fibonacci level at the 1.5430, but I would have preferred the 50% retracement at least hold. What has me thinking we are headed higher again is the break of the down channel of the USDCAD at the 1.3150 level which in turn may allow for the EURCAD to head back towards the 1.6000 key resistance.