Combine 1 cup flour, sugar, undissolved yeast, salt, lemon peel, and mace in large mixer bowl.
Heat milk, water, and butter until very warm (120° to 130°F). Gradually add to flour mixture. Beat 2 minutes at medium speed of electric mixer, scraping bowl occasionally. Add eggs and 1 cup flour; beat 2 minutes at high speed. Stir in raisins, almonds, and enough remaining flour to make a soft dough. Knead on lightly floured surface until smooth and elastic, about 8 to 10 minutes. Cover; let rest 10 minutes.
Divide dough into 4 equal pieces. Roll 3 pieces to 14-inch ropes. Braid together on greased baking sheet. Tuck ends under to seal. Divide remaining piece into 3 equal pieces. Roll each piece to 9-inch rope; braid together. Pinch ends to seal. Brush surface of large braid with water; place small braid on top of large braid. Cover; let rise in warm, draft-free place until doubled in size, about 45 minutes to 1 hour.
Brush loaf with beaten egg white. Bake at 350°F for 30 to 35 minutes or until done. Remove from sheet; cool on wire rack.
Drizzle with Powdered Sugar Glaze. Powdered Sugar Glaze: Combine powdered sugar and milk in a small bowl. Stir until smooth.