Using parent access in with + if doesn't work correctly

[Toverbal]

I can't really explain what's wrong, but an example will probably say enough. Here's a complete fiddle: https://jsfiddle.net/Toverbal/7gc9br80/

Data:

var data = {
  level1: {
     level2: 'This is level 2!',
  },
  withwrapper: {
    content: 'This is dummy content',
  },
};

Template (this is just a snippet from the complete fiddle!):

  {{#with withwrapper}}
    {{#if ../level1}}
      <div>This fails: {{ ../level1.level2 }}</div> 
    {{/if}}
  {{/with}}

Strange thing is that ../../level1.level2 will give result and if you don't add the #if, the ../level1.level2 actually works.