Yes, by using the backup feature it creates a disk image file.
This will simply be 1 file 70GB (less than that) which you can store anywhere on any medium, unlike a disk clone.
The idea is that should your drive fail you buy a new one then restore the disk image, the Acronis software will recreate the drive data based on that file <This is what you want
As a preference I always recommend that you create the disk image using a clean windows installation with minimal data on it. For example if your drive lasts 2 years when it comes to restoring your image you will have old software / drivers. Therefore it is better to create the image just after Windows has been installed <clean state.
I don't have Acronis 2015/16 but the free Western Digital version can be used for reference purposes and the steps are similar.
Press on Entire PC, Choose Disk and partitions
Choose full partition list (see at the bottom it says short partition list)
Here you will choose your SSD drive, this is the source drive to copy.
Choose your destination drive, where you want to save the image.
Browse
Find your location, Windows 10 = This PC, you will need to find your drive letter of said USB drive.
I plan to save the image to my E: drive in a folder called Acronis
Confirm details, click Backup Now
Watch it do its thing
Done
Check to see if there is now a TiB file at that location.
This is your backup / clone stored to the file.
I didn't choose External drive as the option is not required, once you have any drive connected to the PC it will be browsable anyway so navigate to it.
Now the only thing left to cover is how to restore but that is kind of reversal of the above with you just choosing Recovery option. This stage you would simply choose the whole image (file) and restore the whole lot, all partitions.
Just make sure you choose the destination correctly.
And before you do that, try out the bootable CD, Rescue media builder (DVD drive required)
This will allow you to create an image (Clone) or recover one to a new drive without using Windows, you boot from the CD first.
These images will vary slightly but I hope this provides you with some useful guidance, it should work for your WD USB drive so give it a go. (WD Acronis software only works with WD detected products)