Don't know about that particular fluid, but whatever you use, it must meet Ford/NH spec M2C134. or the newer cold climate FNHA-2-C-200.00 & newer yet, 201 spec. I think NH now calls the M2C134, simply Multi-G.
I just placed an order for Amsoil's universal tractror hydraulic fluid, but if you want to go for something quite a bit less expensive, TSC has their fluid, which I believe is 10w-20, for around $50/5 gal.
There apparently is also a relatively new NH-410C fluid, but I don't know if that is suitable for your 1720. I kind-of believe it would be OK, and it apparently is mult-viscosity so cold weather operation could be improved, but I know nothing more.