Mobilesync>Backup eating up Disk space

My PC is always recently showing low disk space despite me eliminating files. I ran Tree size and discovered large volume from iTunes sync backup. Before deleting in iTunes>preference, May I just copy/paste this directory

C:\Users\Owner\AppData\Roaming\Apple Computer\MobileSync\Backup

to another drive first and in case I need to restore, I can copy it back to that directory and restore in iTunes? Thank you for your answer.