Leaking and Burning

I have encountered a very strange fluid leak. I am getting a burning smell from the exhaust system and after getting underneath I found out that I have a fluid leak of some sort. I took the right hand timing cover off to see if the timing belt had any fluid on it from a possible crank seal or cam seal leak but it is dry. Upon further inspection I saw that the fluid seemed to be leaking from the power steering pump resevoir. I pressure washed the entire engine and all was fine until I smelled something burning again and found it to be the power steering pump again. When I take the cap off the level is right where it should be but why is fluid leaking and when is it leaking out? Any help would be appreciated. Has anyone had this problem before?