Psychiatry tends to be pretty holistic with application reviews, so I think you have a shot as long as the rest of your application is solid. That being said things have gotten more competitive, so nothing is guaranteed. Doing well in a couple of away rotations, applying broadly to a lot of programs (more than the average MD psych applicant), and dual applying to IM or FM will increase your chances of matching. Just as an example, I know someone who failed Step 1 twice and still matched into Psychiatry (small community program), although that was 4 years ago.