All of sudden yesterday morning my power steering started leaking and I can't seem to find the leak. Any direction would be greatly appreciated.

 

Most likely the seal behind the pulley on the shaft. Hard to see and it can be even harder to get at. You can either replace the pump or replace the seal. But either way you will probably need the puller for the pulley. I think I paid $25+- for mine at Advance and they are worth EVERY penny. Some of them have to have the pulley remove to get it off of the mount.
Before removing the pump be sure to check everywhere else tho, could be a bad hose or connection too.

 

Spray it off with brake clean and run it to look for the leak. It's at about the right age where the lines are going to rust out and start to leak, depending on what part of the country you live in.

-Jon

 

I can vouch for the lines fusting out as mine did and also mine blew out the seal on the bottom of the steering gear where the pitman arm connects.

 

I had the same problem as CLEAT, the seal on the bottom of the gearbox blew out. Pain in the butt to pull and fix but if I remember a rebuilt on was around $200 + and the seal kit was $13 from the ford dealership. I rebuilt mine over a year ago and still no problems.

 

Before pulling the pump off, pour 1-2oz. regular brake fluid in the resivoir. The fluid will swell the seals (sometimes) and stop small leaks.