2005 Ranger XF4 1 WEEK in.
I am doing searches and reading old posts in order. Still, I want to throw simpler questions to you all. I'll be real brief.

Is it OK to use synthetic power steering fluid (Pentosin CHF-11S and others) in the power steering system?

Is it OK to use Dex/Merc LV in the power steering system?

I am aware that "MERCON" has been superseded by "MERCON V" for transmission fluid.

And yes, I'm asking because I have a single quart of Valvoline MaxLife Dex/Merc LV in my pantry.

 

As long as the synthetic fluid meets the spec as shown in the owners manual you'll be ok.

I just bought what the OM says and flushed it about 3 times. Works like new at 160k miles.