I have heard of using ATF in power steering reservoir, but I'm not sure if it can be used in 3rd gen cars. Please enlighten me if you can.

 

To my knowledge, it takes just regular off the shelf power steering fluid. ATF can be used in a pinch. Contrary to popular belief, power steering fluid and ATF do differ, mostly in the additive package. Years ago, many models of cars did use ATF for the power steering, and some modern imports still use Dex-III.