HELP! - Will low F1 fluid keep car from shifting and cause F1 alert??????

I went to drive my Challenge Stradale today, and when I backed it out of my garage the warning light for the F1 system came on (steady warning light with audiable sound).

I noticed that the car would shift from N into 1, 2, and R, but wouldn't shift into 3, 4, 5, or 6. I immediatly pulled it back into my garage and turned off the car.

Then, I looked at the manual, and checked the F1 pump oil reserve tank. It was very low - below the MIN level.

Obviously, I will get some F1 fluid from the dealer tomorrow, but I am really curious if the low fluid level would cause the lack of shifting and warning system to sound??? Any help is appreciated since I'd hate to think about the cost of a repair on the F1 system! Thanks!!