Ford sell little bottles of touch-up paint for about $15 by memory. Get one of them (or more, if you need it

)
Sand the paint on the edges of the chip so that it's a bit smoother. That way it'll be less visible when you paint over it. Use oh, 800 grit wet/dry paper and keep it wet. A trickling hosepipe works well. Otherwise you'll scratch the surrounding paint.
Then paint over it with the touch-up paint, and it should look pretty good from a medium sort of range! Up close you'll be able to see it if you know it's there, but somebody looking at the car will probably miss it.
Alex
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Proud TQE Operator and President of SEFAG - the Society for the Elimination of Ford Automatic Gearboxes

Pacemaker headers + 2.5" exhaust
EF Fairmont interior
MP3 player
Lowered King springs
5 speed manual
EF motor
Newest mod: EF Ghia wiring loom and dash