How to add more than 2 levels to structured navigation?

I need to implement structured navigation in order to have Audience Targeting capabilities. it appears that structured navigation only supports 2 levels. is that correct? is there a way to override without programming?

I am trying to achieve the following for left hand navigation. This navigation will be for a bi subsite of host name site collection.

Menu Item 1

• Sub Item 11
  
  
  
  • Sub Item 111
  
  
  
  

sharepoint enterprise 2013 sp1 farm