observance vs honouring

observance and honouring both are nouns.

Word	Noun	Adjective	Verb	Adverb
observance	Yes	No	No	No
honouring	Yes	No	No	No

As nouns, observance and honouring are synonyms defined as:

observance and honouring: conformity with law or custom or practice etc.

Other synonyms of observance include honoring.

observance (noun)	honouring (noun)
the act of observing; taking a patient look	conformity with law or custom or practice etc.
conformity with law or custom or practice etc.
the act of noticing or paying attention
a formal event performed on a special occasion